The Trump Vs. Biden Debate Could See Bitcoin Approach $100,000: Here’s Why

Trump Vs. Biden Debate Could See Bitcoin Approach $100,000: Here’s Why

One of the most anticipated events between now and the elections in November is the debate between presidential candidates Joe Biden and Donald Trump. The debates, scheduled for June 27 and September 10, are expected to provide opportunities for both candidates to clarify their policy stances and appeal to voters ahead of the election. While the main topics of the debate are expected to include border security, inflation, abortion, healthcare and others, cryptocurrency remains a secondary but important topic for some.

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Over the past few months, crypto has become an increasingly important and divisive issue for some voters. Some estimates suggest that up to 20% of undecided state voters view crypto as an important issue in the election, potentially influencing their voting decisions. This is likely attributed to multiple regulatory conflicts in 2024, particularly involving spot Ethereum ETFs and Binance lawsuits. These brought great interest to crypto and caused many people to take sides on the issue.

When it comes to discussion, crypto is expected to be the subject of discussion. Donald Trump revealed his support for crypto by speaking at an NFT event in recent months and said: “Democrats are strongly against it [crypto]. And I’m saying, a lot of people are very receptive to that… and that’s okay with me. I want to make sure it’s nice and solid… but I’m okay with that. “If you love crypto in any form, and it comes in many different forms, you better vote for Trump.”

Although the Biden administration has not taken as strict a stance on crypto as Trump, it has taken action against it. These actions angered some in the crypto community and pleased some outside. These policy moves include proposals to significantly increase taxes on Bitcoin mining operations and a veto of the SAB 121 bill supporting crypto legislation.

Additionally, several major financial firms have contributed hundreds of millions of dollars to a political action committee (PAC) aimed at encouraging cryptocurrency adoption. This PAC received over $161 million in donations, exceeding the combined contributions of the airline and healthcare industries. The PAC is non-partisan and aims to fund only candidates who are pro-crypto or open to learning more about crypto.

With this in mind, the discussion could potentially include crypto as a topic. If such a situation were to occur, significant interest and investment would likely be attracted to Bitcoin. Additionally, analysts at Standard Chartered predict that Bitcoin could rise as high as $150,000 in the event of a Trump victory. If Trump expresses his positive views on crypto during the debate, the token price could approach the value predicted by Standard Chartered.

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