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Highlights
- Donald Trump survived an assassination attempt on July 13
- Following this event, Elon Musk officially endorsed him for President
- Tron Founder Justin Sun also followed the same path
Tesla CEO Elon Musk and Tron Founder Justin Sun have finally endorsed former U.S. President Donald Trump in the race for the White House. This endorsement comes on the heels of the failed assassination attempt on Trump’s life on July 13.
Crypto Figures Taking a Side
For a very long time, this upcoming election has been regarded as the first that crypto alignment might mean a lot. In the runup, Donald Trump survived an assassination attempt from a 20-year-old. These series of chaotic events have seen the market react in a rather resilient manner. This trend shows the industry has a vote of confidence on Donald Trump.
The price of Bitcoin has jumped by more than 1.77% to $59,659. Ethereum (ETH) is leading altcoin reboot, inking a 1.07% growth to $3,184. Donald Trump’s memecoin, MAGA (TRUMP) surged by more than 50% to $8.27 at the time of writing.
While the retail market spoke clearly, respected leaders in the industry also made their voices heard. Elon Musk posted on X, saying he endorses Donald Trump while wishing him a speedy recovery.
I fully endorse President Trump and hope for his rapid recovery pic.twitter.com/ZdxkF63EqF
— Elon Musk (@elonmusk) July 13, 2024
Tron Founder Justin Sun shared the same post on X, adding that “he is a better choice for the crypto industry and can ensure fairer treatment.”
This stance is arguably debatable, considering crucial balancing the Biden Administration is trying to put in place to win crypto votes. While the election is still months away, the Polymarket Odds that Donald Trump will emerge as President again has jumped to 71% as against Joe Biden’s 17%.
Though this is just the perception of predictors who may or may not vote in the election, the projections generally underscores crypto market sentiment.
Elon Musk Setting Crucial Blueprint
For Justin Sun, his actions appear as though he is truly following in the footsteps of Elon Musk. Just like Musk bought Twitter and rebranded it to X, Sun is also notably eyeing purchasing a Chinese X rival Weibo.
The endorsement of Donald Trump by Sun comes only a few hours after Elon Musk shared the post on X. While the Sun’s move remains quite obvious, it remains unknown how many more crypto leaders will officially endorse Donald Trump based on Musk’s influence.
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