Key Points
- The 2024 US election is influenced by the growing number of crypto users, with Trump gaining crypto support.
- The stance of presidential candidates towards crypto is causing division, with Biden facing criticism for his anti-crypto approach.
The 2024 US election, now referred to as the “Bitcoin Election”, is being significantly impacted by the increasing number of crypto users.
The rise in crypto users, from 4.94 million in 2017 to a projected 87.77 million in 2024, is reshaping economic landscapes and influencing political agendas.
Presidential Candidates and Crypto
The two presidential candidates, Trump and Biden, have differing views on crypto, causing division.
Former President Trump has shown support for crypto, with Marathon Digital Holdings CEO Fred Thiel stating that Trump has positioned himself as the pro-bitcoin candidate.
In contrast, President Biden appears to have an anti-crypto stance, with Thiel noting that the Biden administration has been hostile to bitcoin.
Billionaire entrepreneur Mark Cuban also expressed concerns about Biden’s stance on crypto, warning that regulatory hurdles could harm his reelection chances.
Trump’s Crypto Support
Trump’s support for crypto has attracted donations from influential figures such as the Winklevoss twins, founders of the cryptocurrency exchange Gemini, who donated $1 million worth of Bitcoin to Trump’s campaign.
This support suggests that Trump’s stance on crypto could be a deciding factor in the upcoming election.
The political rivalry between Trump and Biden is also reflected in the memecoin market, with the Trump-inspired memecoin Doland Tremp [TREMP] seeing a 20.2% increase, while the Biden-inspired coin, Jeo Boden [BODEN], was down by 3.3%.
