Today there is a debate between Trump and Biden in the United States and this may cause increased volatility for the crypto market. Especially, of course, we are talking about such “political” meme tokens as #TRUMP, #TREMP, #BODEN. But perhaps far more than that.
In the States, the debate will take place on June 27, on our continent - already on June 28, 5:00 Kyiv time/Moscow time and 7:00 Astana time.
Why is the debate important for the crypto market? Because it is already clear that Trump chose this topic as one of the important ones in the fight for the presidency. We wrote about this in previous posts. And even if suddenly in August (as is rumored) the Democrats replace Biden’s candidacy with Michelle Obama’s candidacy, the topic will remain at the TOP. Because it's a marker. Because the relationship of Democrats to crypto assets and the crypto market is a broader and more systemic story. And - this is a story with which you can beat them.
Trump tried on the image of defenders of the crypto industry - and the image came in handy. He is already meeting with industry representatives. He's already receiving words of encouragement from figures like #ArkInvest's Cathie Wood.
On #Polymarket, the probability that Trump will talk about cryptocurrencies and BTC is now estimated at 56%.
We'd say the probability is higher than 70%. And if Trump starts talking about crypto assets and reproaches Biden for his current policy towards the crypto industry, the current president will have to defend himself. And do it in such a way as not to scare away “crypto voters.” Let's recall Mike Novogratz's estimate from#Galaxythat there are more people in the States than there are dog owners - 85 million people. This is already too large a group of voters not to appeal to. Or to openly oppose it. Just a year ago, Biden could openly oppose the crypto industry and its participants, including crypto traders. Now it’s unlikely, the elections are approaching.
By the way, #Сryptoslate published an article today entitled “Only 41 American politicians are now “strongly against” cryptocurrency, and 310 “strongly support.” We are talking about congressmen and publicly stated positions, including through submitted legislative initiatives.
Based on the data provided by Stand With Crypto (SWC), the publication calculated that in the US Congress:
- Republicans: 238 representatives strongly support cryptocurrency.
- Democrats: 68 representatives strongly support cryptocurrency.
- Republicans: 5 representatives are strongly against cryptocurrency.
- Democrats: 36 representatives are strongly against cryptocurrency.
Biden's campaign technologists know all these numbers. They also know that the other day Jamal Bowman, one of the most “anti-cryptocurrency” congressmen and Elizabeth Warren’s main ally, was defeated in the democratic primaries in NY16. In recent months, he has voted against the anti-CBDC bill, FIT21, and against the repeal of SAB121. And the “response” in the elections was not long in coming.
