‘Trump vs Harris Presidential Debate’: Implications on Crypto

Donald Trump and Kamala Harris are set for a Presidential debate scheduled for September 10- and it can be a huge deal for the crypto market. The Trump vs Presidential debate is expected to be a macro event potent enough to charge up the crypto industry.

Crypto, as an industry, has witnessed several dips and surges throughout the Presidential elections event, if one is to closely follow every crypto-centric statement put out in the public by either of the candidates or even the other party representatives. 

So, when Trump attended the Bitcoin Conference in Nashville, and promised to fire the ‘crypto stock villain’ (pun intended), Gary Gensler, triggered thunderous applause from the audience which echoed in the way BTC rocketed to peak at $69,990.

Trump read the room perfectly, and promised the audience to make ‘US a crypto capital’ at the event.

Kamala Harris, too, did not leave an opportunity to ride on the crypto fever. When rumors about Harris supporting crypto started doing rounds, a tiny spike of 2% was recorded echoing the crypto community’s support.

However, when reports of Harris electing Gary Gensler as US Treasury Secretary came around, the crypto army was quick to criticize her. On the contrary, when Trump suggested stamping in the US name for Bitcoins mined in the country, Marathon Digital, took heed to the advice, which makes it clear that when Trump speaks, crypto listens, and sometimes abides too.

Furthermore, when OpenSea received a WELL’s notice, the next day Trump released his set of digital trading cards on OpenSea, juxtaposing his pro-crypto and pro-NFT stance with that of Harris and Biden’s not-so-positive crypto position.

Speaking on what are the implications of Trump vs Harris Presidential debates on crypto, Quinn Thompson, founder of crypto hedge fund Lekker Capital, “Bitcoin was more obviously a Trump trade when Trump had this 60-40 lead against [President] Biden in the polls,” Thompson said.

“It was like, Bitcoin is going to be fine, because he is going to win,” Thompson added.

Amidst all of this, one thing is certain: as both the Presidential candidates gear up for the much-awaited debate, the crypto community will be hooked!

Also Read: Coinbase CLO: Trump & Harris Consult Crypto Industry Leaders for Policies