- Trump doubled down on his pro-crypto position in a recent speech
- According to Polymarket, he still has a seven-point lead over Harris
Donald Trump, the Republican presidential candidate, has strengthened his pledge to make the US the Bitcoin capital of the world [BTC] and crypto. He did this during his speech on Thursday before the Economic Club of New York. During his speech he said said,
“Rather than attacking the industries of the future, we will embrace them. Including making America the crypto and Bitcoin capital of the world.”
This announcement simply reinforced something similar promise the former president made last week.
Trump’s Latest Turn Towards Bitcoin
While president, Trump was a top critic of Bitcoin and crypto. In fact, he called BTC a “disaster waiting to happen” and a “scam.” However, he quickly pivoted during his second attempt to capture the US presidency and emerged as the only pro-BTC president.
Perhaps the most important highlight of his pro-crypto position was his own appearance at this year’s Bitcoin conference in Nashville. During his keynote speech, he announced a strategic national reserve for the asset.
Trump’s family has also remained active in crypto beyond that. It has unveiled new DeFi projections with the latest World freedom financial and ‘The Defiant Ones’ to make finance ‘great again’.
While the family’s projects have drawn mixed reactions, the former president has captured a significant share of the market amid increased donations from crypto companies and individuals.
As a result, Fairshake, an American pro-crypto super political action committee (PAC), has seen this treasury golf. Especially since top players like Coinbase and Ripple donated to support pro-crypto candidates.
According to Polymarket, Trump’s chances of winning the election are still higher than those of Kamala Harris. At the time of writing, Trump led Harris with 7 points on the prediction site.
Source: Polymarkt
However, two months is like a century in politics. Each update can therefore tip the balance in both directions.
And yet some market analysts, such as Quinn Thompson of Lekker Capital, are confident that Trump could win the election. If this happens, Thompson claimed that the current BTC value would be mispriced and undervalued.
“We are exactly two months away from the US elections. Imagine how mispriced so many assets are right now if Trump wins. 10 year is at 3.77%, Bitcoin at $57,000, and the commodity/energy complex is trading in the dumps.’”