Bitrabo Editorial
Kamala Harris, the Democratic candidate, saw her chances of winning the election improve after the presidential debate against Donald Trump, the Republican contender. While both candidates were nearly tied in the polls, Bitcoin’s value experienced a slight drop of 1.5%.
Cryptocurrency enthusiasts were eager for discussions on Bitcoin (BTC) and digital assets, but their expectations were unmet as the debate concluded without any mention of crypto policies.
Crypto Omissions in the Debate
The crypto sector anticipated significant dialogue on relevant policies during the recent Presidential Debate. A candidate’s viewpoint on digital assets has become crucial for voters in the United States.
A survey conducted by the global exchange Gemini highlighted that 75% of cryptocurrency owners feel that digital asset policies will influence their voting behavior. Moreover, 73% of respondents intend to weigh a candidate’s position on crypto before casting their vote, with 37% indicating that such views will heavily impact their choices.
Given this context, many investors were hopeful that candidates would address crypto policies during their first face-off. Trump has previously garnered significant support within the crypto community by advocating for the industry.
He promised to reverse the current regulatory pressures on the crypto market and discontinue the Biden-Harris administration’s disfavor towards the sector. Additionally, he indicated a desire to replace SEC Chairman Gary Gensler should he win the election.
After the debate, Harris’s position on crypto remains unclear, yet many believe she outperformed Trump in the discussion.
Notable Bitcoin advocate Mike Novogratz commented that Harris had a compelling victory over Trump, even humorously suggesting the Republican National Committee might need to replace Trump after the debate. He insisted that the election’s outcome would rely heavily on six closely contested states.
Other observers opined that the real losers were the American people, as both candidates skirted around pressing issues such as rising inflation and government excess.
According to QCP Capital, shared in a Telegram post, Harris seems to have gained favor with the public but there was still a lack of concrete economic policy outlined by either participant.
Harris Gains Momentum
The recent debate led to a 4% increase in Harris’s chances of winning, as reported by Polymarket, with both candidates initially tied at 49%. However, early Wednesday showed Harris gaining an edge.
Harris’s chances also received a boost when global music icon Taylor Swift endorsed her. In an Instagram update, Swift distanced herself from Trump’s pro-crypto stance and criticized his running mate J.D. Vance for derogatory comments about female Democratic leaders. Ahead of the debate, Harris also garnered backing from 88 business figures, including Ripple co-founder Chris Larsen and billionaire Mark Cuban.
Currently, Kamala Harris’s projected likelihood of winning the presidency stands at 50% according to Polymarket, slightly ahead of Trump at 49%. Furthermore, her odds for the six pivotal swing states have risen by 2% in the prediction market.
