NewsletterUS 2024 Election: Crypto Markets in Anticipation as Biden Leads Six States
Highlights
- In six of the seven crucial swing states, President Joe Biden has overtaken Republican Donald Trump.
- Proponents of cryptocurrencies seek improved legislation as well as increased transparency.
- Winning over Bitcoin aficionados would likely be necessary for any administration hoping to win an election.
The US 2024 elections are just around the corner and every financial market, including that of crypto, is watching in anticipation. In the latest development, in six of the seven crucial swing states President Joe Biden has overtaken Republican Donald Trump. Bloomberg in its report highlights that according to a poll conducted by them, democrats might be gaining a lead in six states as of now.
President Biden Takes Lead in Six States
In six of the seven crucial swing states, President Joe Biden has overtaken Republican Donald Trump, and he has done so decisively in at least two of them. According to the results, the Democrat’s standing is at its highest point in a regular Bloomberg News/Morning Consult survey. The swing toward the president follows a State of the Union address that energized Democrats and appeared to allay worries about Biden’s age. It comes after five months of largely stable Trump leads.
Read Also: US Treasury Flags 13 Russian Firms For Crypto Use To Evade Sanctions
Where Will Crypto Markets Lean in the US 2024 Elections?
By now, it should be evident that proponents of cryptocurrencies seek improved legislation as well as increased transparency from legislators regarding their understanding and acceptance. One prime illustration of this is Katie Porter’s defeat in the Senate. As CoinGape previously reported, Congresswoman Katie Porter’s choice to back Senator Elizabeth Warren’s anti-crypto position and Schiff’s victory over her in the California Senate Primary are related. Since John Deaton declared he would be running against Elizabeth Warren for the US Senate seat, people have been supporting him to increase the number of bitcoin players active in US politics. In reaction to rumors that she would encounter resistance for her Senate seat, Senator Elizabeth Warren also mobilized her base of support.
One in five Americans currently owns digital assets, according to Forbes. That is, fifty-two million people. The sum is substantial enough to significantly affect how the US presidential election turns out. Consequently, winning over Bitcoin aficionados would likely be necessary for any administration hoping to win an election.
Read Also: House Committees Demand SEC Clarity on Ether in Prometheum Case
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