Trump’s Election Odds Drop to 54% Amid Rising Crypto Support for Kamala Harris

1 month ago 8

Donald Trump’s chances of winning the next U.S. presidential election have recently dropped to 54%, according to betting markets. This decline is notable, especially considering his previous high of 72% in July.

Interestingly, the shift in support is partly due to rising enthusiasm for the US Vice President Kamala Harris within the Bitcoin & Crypto community. Despite Harris’s past criticism of Bitcoin, labeling it as “money for bad actors,” she has recently gained traction among crypto enthusiasts. This shift can be attributed to several factors:

Policy Shifts and New Promises

Harris has made promises to support innovation and regulation in the crypto space, which may have swayed the community. Her recent statements suggest a more nuanced understanding of Bitcoin & blockchain technology and its potential benefits for financial inclusion and technological modernization.

Disillusionment with Trump

Trump’s odds have been affected by his legal troubles and the overall political climate. His recent conviction and the ongoing legal challenges have made some of his supporters, including those in the crypto community, reconsider their support.

Democratic Party Dynamics

With President Joe Biden facing challenges and calls to step aside, Harris has emerged as a strong contender for the Democratic nomination. This internal shift within the Democratic Party has increased her visibility and appeal as a potential leader who might bring fresh perspectives to the presidency.

The Bitcoin community’s evolving stance towards Harris, coupled with Trump’s declining odds, underscores the fluid nature of political support and the growing impact of Crypto enthusiasts in shaping election outcomes.

Trump’s Crypto holding

While there are no specific details on the use of crypto holdings in Trump’s current election campaign donations, Trump’s campaign financing remains a point of interest for many, especially given the rising influence of digital assets in political fundraising.

Currently, Trump’s crypto holdings, received from the public as part of political campaign donations, amount to $6.67 million at the current trade price of flagship crypto assets.