Bitcoin
Leak reveals crypto is primed for a big Biden upset ahead of Trump debate that could trigger an earthquake in Bitcoin, Ethereum and XRP prices
Bitcoin
Bitcoin
is prepared for an earthquake in Washington next week after former President Donald Trump made the shocking declaration that he will be “crypto-president”.
The price of bitcoin soared from around $15,000 per bitcoin following the collapse of crypto exchange FTX in late 2022, back to its peak of $70,000 – helping the price of ethereum more than double and XRP
XRP
add nearly 60% as broader crypto market recovers
Now, as tech billionaire Michael Dell generates wild speculation that his computer company could follow Elon Musk’s MicroStrategy and Tesla into bitcoinThere are rumors that President Joe Biden could talk about crypto policy during his first presidential debate with Trump on Thursday, June 27.
Sign up now for free CryptoCodex–A five-minute daily newsletter for traders, investors and the crypto-curious that will keep you updated and ahead of the bitcoin and crypto market bull run
Former US President Donald Trump has embraced bitcoin and crypto in recent months, while… [+] President Joe Biden has taken an anti-crypto stance that some think could affect the price of bitcoin, ethereum, XRP and other major cryptocurrencies.
AFP via Getty Images
“The upcoming US presidential debate between Joe Biden and Donald Trump, with its new format and stricter rules to ensure a more structured discussion, is unlikely to have a significant impact on the price of bitcoin, but it could have on the broader cryptocurrency market.” , Bitfinex analysts wrote. in comments sent by email.
“Both Biden and Trump have well-documented positions on cryptocurrencies and financial regulations. The market has already taken their positions into account, so any reiteration of these views during the debate is unlikely to introduce new volatility. While the debate may address regulatory frameworks that could impact cryptocurrencies, the specifics of such regulations often emerge from detailed political announcements and legislative processes rather than debating sound bites.”
Trump has leaned into bitcoin and crypto in recent weeks after making millions from a series of crypto-based digital trading card non-fungible tokens (NFTs) and putting him in stark conflict with the Biden administration’s anti-crypto stance. Trump declared support for crypto in late May and began accepting campaign donations in bitcoin, ethereum, solana, dogecoin and shiba inu.
Earlier this month, it was reported that the Biden campaign is discussing accepting bitcoin and cryptocurrency donations through Coinbase, according to The Block. quoting anonymous sources.
Last week, an email leaked from California Congressman Ro Khanna’s office to Bitcoin Magazine revealed that officials from the Biden administration, House and Senate, along with Shark Tank billionaire Mark Cuban, are set to meet in early July for “the most significant meeting between policymakers and blockchain innovation leaders to date.”
Cuban, an outspoken supporter of President Joe Biden, warned that Trump could win the 2024 election due to Biden’s opposition to encryption.
Register now on CryptoCodex—A free daily newsletter for the crypto-curious
The price of bitcoin has soared in recent months, returning to its all-time high… [+] of around US$70,000 per bitcoin.
Forbes Digital Assets
Another Trump critic and Biden supporter, Anthony Scaramucci, managing partner at hedge fund SkyBridge Capital who served as Trump’s communications director in 2017, said Biden’s opposition to encryption would not continue into a second term.
“I talked to a lot of people about the Biden campaign, people like [Coinbase investor and venture capitalist] Ron Conway… [who] will take a softer approach to crypto,” Anthony Scaramucci, former Trump communications director and managing partner at hedge fund SkyBridge Capital, counted Laura Shin on her podcast Unchained.
“I also think that the anti-crypto nonsense that is actually sponsored by Senator Elizabeth Warren and [Securities and Exchange Commission chair] Gary Gensler is behind us,” said Scaramucci, adding that the crypto industry “has already won.”