Bitcoin with Political Endorsements

[Taskford]

As the U.S.A. election day approaches.
Different politicians have their different flowery plans and words just to get the people's hearts.

Its normal expect that they use all the methods that possibly may work just to get the votes of people and it seems Trump is successful since he's already gaining the advantage among his fellow candidates.

An example is what happened to Former President Donald Trump recently gave a keynote address at the Bitcoin 2024 conference, in which he expressed strong support for Bitcoin.
The speech gave a lot of buzz and the price of Bitcoin surged above $67,000 (do you think this is the reason?)

No its not the reason bitcoin is already recovering so its baseless thoughts to think about the current pump is due to what Trump did on that conference.

Do you think these political endorsements will help the politician to win the elections, or they will help Bitcoin's price increase?

Yes it could help them to win. There's a lot of people who engage with bitcoin in that country and for sure all the votes will go to the politician who show support with bitcoin, then for sure they avoid those politician like Biden which already withdrawn his candidacy because for they know this will create something bad  to the asset they are supporting.

[Blitzboy]

Bitcoin is on fire. People listen now when a winner such as Trump discusses Bitcoin. He has that Midas touch; when he says something will be significant, typically it is. Indeed, the market swings; it is like riding a roller coaster. Thats really encouraging, though, when you have a visionary like Trump behind you. This relates to the future as much as politics. Its about a better sort of money, a fresh kind of money. And Trump understands it as well. Will this now help him to win the election? Time will tell just how this goes. Still, Bitcoin is going to be around. And smart people will find themselves on this train. So forget those critics and those fake news enthusiasts; Bitcoin is the actual deal.

[legiteum]

Bitcoin is on fire. People listen now when a winner such as Trump discusses Bitcoin. He has that Midas touch; when he says something will be significant, typically it is.

Is just occurred to me that probably about 95% of the Trump supporters here do not live in the USA.

Anybody who calls Trump a "winner" or that he has the "Midas touch" or that he actually means what he says cannot possibly know a thing about US politics save a few soundbites gleaned from Republican-friendly media (and even Fox News wouldn't say those things about Trump).

People who actually live in the USA know that Trump is a convicted criminal and a loser who squandered his inheritance from his father, and has destroyed everything he has ever touched--and that he constantly says things that end up being completely meaningless.

And yes, even Trump's actual voters know he's not a "winner": they are voting for Trump because they want abortion to be illegal in the USA, not because Trump himself is so awesome.

[Marykeller]

What are your thoughts on these developments?

Campaign strategy. Every politician has something in mind that they openly throw as a campaign speech for their supporters to believe in.

Trump having to support Bitcoin is part of his campaign strategy to gain crypto supporters to his side but that doesn't mean the whole Americans would vote for him on that because the keynote agenda Americans would want to hear is solutions to problems that face Americans and its economy and security not on crypto.

Having said that, the Americans who would vote for Trump not because he endorses Bitcoin but because they feel he is the right candidate for the presidency.

Bitcoin's uptrend movement is not related to Trump's support of bitcoin. Bitcoin increase because it is time for it to increase since the halving has passed(months)

[Doan9269]

As the U.S.A. election day approaches.
Different politicians have their different flowery plans and words just to get the people's hearts.

An example is what happened to Former President Donald Trump recently gave a keynote address at the Bitcoin 2024 conference, in which he expressed strong support for Bitcoin.
The speech gave a lot of buzz and the price of Bitcoin surged above $67,000 (do you think this is the reason?)

Do you think these political endorsements will help the politician to win the elections, or they will help Bitcoin's price increase?

What are your thoughts on these developments?

Bitcoin community has a great power of influence and i appreciate the fact that some of the politicians have realized this earlier, you can imagine if the whole numbers of US based citizens who were bitcoiners all came out in support of Trump over his reelection the second term, am suspecting that they now realized that bitcoin is not a coin used for illicit activities alone, but more responsible and high caliber of people are using it in a proper way, which they see that they can also benefit from all its offers including the trusted people who made up its network.

[Maslate]

I would say both. If he can win the hearts of the bitcoin community, then it’s already a big factor that will contribute to his future success, as well as btc price will also continue to benefit and surge high. But nevertheless, bitcoin community is not also dumb, they won’t easily believe on things like it only happened like thin air. However, there are still few months for Trump to prove his sincerity towards bitcoin, let’s see then what will be the reaction of bitcoin community right after.

[Alpha Marine]

The speech gave a lot of buzz and the price of Bitcoin surged above $67,000 (do you think this is the reason?)

No, I do not think this is the reason for Bitcoin getting to over $67k. Bitcoin has already started correcting after what happened with the German government selling its bitcoin. Bitcoin dropped to as low as $55k earlier this month but immediately after the German government stopped selling, Bitcoin started recovering. In fact, on the 22nd of this month, bitcoin got to $68,181 and that was before the conference because the conference started on the 25th and ended on the 27th of this month. So with this, I can say the speech just coincides with when Bitcoin was already going up.

Do you think these political endorsements will help the politician to win the elections, or they will help Bitcoin's price increase?

Of course, political endorsements help candidates win elections. The more endorsements a candidate gets, the more voters they will likely get and this is also more money for the campaign. Campaigns are expensive and if you don't campaign well you might lose. That is why the two major parties in the US always win. They have better funding and structure.

I don't believe political endorsement can increase bitcoin price. Bitcoin is not a national currency, It's a global one. So an event like that of a particular country is not big enough to affect the price of bitcoin.

[avp2306]

I would say both. If he can win the hearts of the bitcoin community, then it’s already a big factor that will contribute to his future success, as well as btc price will also continue to benefit and surge high. But nevertheless, bitcoin community is not also dumb, they won’t easily believe on things like it only happened like thin air. However, there are still few months for Trump to prove his sincerity towards bitcoin, let’s see then what will be the reaction of bitcoin community right after.

Imagine this numbers if Trump could able to get this

Cryptocurrency awareness and ownership rates have increased to record levels: 40% of American adults now own crypto, up from 30% in 2023. This could be as many as 93 million people. Among current crypto owners, around 63% hope to obtain more cryptocurrency over the next year.

Source https://www.security.org/digital-security/cryptocurrency-annual-consumer-report/

That means Trump could assure his victory if he get the hearts of that 40% of bitcoin user in US. Many people didn't like what those anti bitcoin or crypto politician do and provably they are avoiding those candidate who spread hate on crypto before.

Trumps camp is so smart to take advantage in the situation and here it comes he is the leading candidate and huge chance for him to became the President of USA again.

[SquirrelJulietGarden]

Imagine this numbers if Trump could able to get this

Cryptocurrency awareness and ownership rates have increased to record levels: 40% of American adults now own crypto, up from 30% in 2023. This could be as many as 93 million people. Among current crypto owners, around 63% hope to obtain more cryptocurrency over the next year.

Source https://www.security.org/digital-security/cryptocurrency-annual-consumer-report/

That means Trump could assure his victory if he get the hearts of that 40% of bitcoin user in US. Many people didn't like what those anti bitcoin or crypto politician do and provably they are avoiding those candidate who spread hate on crypto before.

Trumps camp is so smart to take advantage in the situation and here it comes he is the leading candidate and huge chance for him to became the President of USA again.

Benefit will be key to attract people to vote for a politician or a political party. If you can touch their hearts and give them attractive promises with possible benefits, chance to win will become bigger a lot.

It's unrealistic to say Trump will gain all 40% of American adults to vote for him, even they own cryptocurrency because some will keep up their belief and support with their own party. But by raising the idea of strong support for cryptocurrency market, Trump will certainly touch to many swing-citizens and increase his opportunity to win the coming election.

On the other hand, Democrats Party did something behind the scene to manipulate Google Search. When you search Donald Trump, you will get result for Kamala Harris. It's not a bug for sure because when you search Kamala Harris, you will not get opposite result for Donald Trump.

https://x.com/ArynneWexler/status/1817965383682506917

[GreatArkansas]

(....(

Imagine this numbers if Trump could able to get this

Cryptocurrency awareness and ownership rates have increased to record levels: 40% of American adults now own crypto, up from 30% in 2023. This could be as many as 93 million people. Among current crypto owners, around 63% hope to obtain more cryptocurrency over the next year.

Source https://www.security.org/digital-security/cryptocurrency-annual-consumer-report/

That means Trump could assure his victory if he get the hearts of that 40% of bitcoin user in US. Many people didn't like what those anti bitcoin or crypto politician do and provably they are avoiding those candidate who spread hate on crypto before.

Trumps camp is so smart to take advantage in the situation and here it comes he is the leading candidate and huge chance for him to became the President of USA again.

This is what I am thinking!
Maybe they are also using the bull market of Bitcoin right now, we all know that recently we just made a new all-time high and people tend to join in the hype every bull market or price action is bullish on Bitcoin, so people right now are in the hype and a lot of people participating on it.

[Adbitco]

As we can see this has now turned to global discussion and news is spreading bitcoin across every nation through this USA election and of course if you look it's giving bitcoin an upper lifting because the said government who where anti bitcoin are now turning to be bitcoin lovers meaning we aren't far from adoption. This is a clear sign that we might see bitcoin in an unimaginable price from now till the USA election is over we also know that bitcoin price are being driven by news so what is going currently is exactly what is controlling bitcoin just as yesterday thereafter the price touched 70k before dip down 66k.

[dezoel]

This is what I have been warning people about, regardless of people do listen or not. Not only you are not going to get republicans to all join into bitcoin just because trump said so, but you are going to scare away democrats because trump likes it, which will make USA a moot point when it comes to crypto, I do not think that we would want something like that at all, it wouldn't benefit anyone.

What I would rather see however is a situation where no politician deals with it specifically, like not try to make it work some other way, not make it a part of their campaign, don't go around talking about it. When one of them wins, if they like it, just do regulations that would help us and we will be fine about it, there is nothing wrong with that, keep doing that.

But don't make it a campaign thing, it is not going to end up with something that will be very tough, it is going to get crazy in there if they keep talking about it, alienating half of the country just for the sake of campaigning, that's not helpful. We need to stop putting these politicians at a higher ground, and as long as we don't we are going to get a lot of people watching everything they say, and that will cause a lot of trouble for us.

[CryptSafe]

As the U.S.A. election day approaches.
Different politicians have their different flowery plans and words just to get the people's hearts.

An example is what happened to Former President Donald Trump recently gave a keynote address at the Bitcoin 2024 conference, in which he expressed strong support for Bitcoin.
The speech gave a lot of buzz and the price of Bitcoin surged above $67,000 (do you think this is the reason?)

Do you think these political endorsements will help the politician to win the elections, or they will help Bitcoin's price increase?

What are your thoughts on these developments?

We should know that no matter what happens in the campaign field or at elections and after declaring the winner of the polls, a politician will still remain a politician. I do not really hold politicians to their words because they are chameleons and can not be trusted to whatever they have said during their campaign because at that point of campaign, they can tell you that the sky is green and you will have no option than to believe it.

It is normal that politicians have endorsement likewise political parties as well and at all cost they would be very much on ground to making sure they and their candidate wins.

Bitcoin popularity and growth has no tie with politicians, political parties or position. But however, the Bitcoin community have attached Bitcoin price increase to political powers for some certain reasons which includes; policies, adoption, government approval etc and that has been the trend now and it has really affected the price fluctuations. One thing I believe that could drive the Bitcoin price high is the market demand. Even if the government approves of Bitcoin acceptability, if there is no demand, then the existence is as good as nothing.

[Iranus]

 ~snip

Has there been any time in the history of the US election that presidential candidates are discussing or giving promises about the crypto industry? This is not only about Donald Trump; it was rumored that Kamala Harris was billed to be a keynote speaker at the Bitcoin Conference, but she later decided not to attend. Cryptocurrencies might not be as powerful as immigration, foreign policy, climate change, abortion, and LGBT rights, but it is an emerging force in the economy of the US. Politicians also know that most people in the US own crypto, and this ownership might determine their choice of candidate.

Crypto has a capitalization of nearly 3 trillion and a trading volume of nearly 100 billion USD per day, so it can be said that it is already a part of the world economy, not just in the US. Cryptocurrencies have a significant user base and support worldwide and it is an emerging topic in our world. And I also agree with you that this is the first time in US election history that cryptocurrencies are mentioned but I would disagree when you say that it is a key factor. Yourself admit that it is no bigger than issues like immigration, climate change...

Votes from the cryptocurrency community will help increase the candidate's chances of winning because each vote opens up another chance to win for them, so they are taking advantage of everything to seek each vote one by one. But it would be inaccurate to say that votes from cryptocurrency investors played a pivotal role in deciding the outcome of the election.

[Dunamisx]

Bitcoin and politics could not work along because the two are different, one is centralized and the other is decentralized, although we can see some benefits from the association of the two together, just as we are having already on how bitcoin is going to help the career of some political elites achieve their ambition in politics, this is not because they are investors of bitcoin or that they have done some tangible efforts toward the development of the community, but because they wanted to be a beneficiary from what bitcoin can render to the society and see this as an avenue for them to achieve their own career with bitcoin, the same way bitcoin have changed many for good without them contributing anything to it.