Bitcoin Surges Following Attack on Donald Trump During Campaign Rally
Bitcoin (BTC) saw a significant spike on Saturday following reports that former U.S. President Donald Trump, the leading Republican candidate for the 2024 election, was attacked at a campaign rally in Pennsylvania on July 13. Bitcoin's price jumped from $58,300 to a peak of $59,800 in less than an hour, marking its highest level in a week. BTC is currently trading at $62,500, surging 4.7% in the past 24 hours.
The surge in Bitcoin's value, however, pales in comparison to the dramatic price increases seen in meme coins inspired by Trump. TREMP, in particular, saw the largest gains, soaring as much as 111% following the incident.
The incident occurred while Trump was delivering a speech at a Pennsylvania rally. Reports indicate that loud noises resembling gunshots or explosions were heard, causing Trump to react and seek cover. He was quickly surrounded by Secret Service agents and was seen with blood on his face before getting back on his feet. The Secret Service has confirmed that Trump is safe, and the incident is regarded as an assassination attempt, with the suspected shooter reportedly killed by Secret Service agents.
Trump's recent vocal support for crypto, which contrasts with current President Joe Biden's stance, may also play a role. Some investors believe that surviving an apparent assassination attempt could bolster Trump's campaign, potentially leading to more favorable crypto regulations if he wins the election.
