Bitcoin and Cryptocurrency Surge After Trump’s Narrow Escape
The price of Bitcoin surged above $60,000 per unit after former President Donald Trump narrowly escaped an assassination attempt during a rally in Pennsylvania. This rise came after earlier lows of $53,000 this month, with Bitcoin currently trading at $59,970. The incident highlighted Trump’s support for Bitcoin and cryptocurrencies, as he pledged to support Bitcoin if he wins the 2024 presidential election.
Trump’s Support for Cryptocurrency Industry
Following the rally shooting, Trump confirmed his participation as a featured speaker at a Bitcoin conference later in the month. He expressed his commitment to ensuring the future of Bitcoin is shaped in the U.S., emphasizing the importance of self-custody in the crypto industry. Trump has also started accepting campaign contributions in various digital currencies, including Bitcoin, Ethereum, Solana, and Dogecoin, showcasing his growing involvement in the cryptocurrency sector.
Meme Tokens and Market Reactions
After the attempted assassination, meme tokens associated with Trump, such as “MAGA” and “TREMP,” experienced significant increases in value. On the other hand, “BODEN,” a meme coin inspired by President Joe Biden, saw a decline in value. These tokens, despite being popular for speculating on election outcomes, do not provide any actual payout to holders if their associated candidate wins. Biden’s odds of winning the election on Polymarket currently stand at 16%.
