SINGAPORE (Reuters) – Shares tumbled on Monday after an assassination attempt on U.S. presidential candidate Donald Trump raised the odds that the former president, a self-proclaimed cryptocurrency advocate, will win the upcoming election. surged to a two-week high.
Trump said he was shot in the ear during an attack at a rally in Pennsylvania on Saturday. His campaign says he’s doing well. Some investors said the attack boosted his chances of regaining the White House, and trading betting on his victory is expected to increase this week.
Bitcoin rose 8.6% to $62,508, having hit a two-week high of $62,698 earlier in the session, bringing its year-to-date gain to 47%.
Ethereum also rose 6.8% to $3,322.
Trump is running against Democratic President Joe Biden in November’s U.S. election and has slammed Democrats’ attempts to regulate the cryptocurrency industry. Trump described himself as a cryptocurrency advocate at a San Francisco fundraiser in June, although he did not provide specific details about his proposed cryptocurrency policy.
“He has definitely positioned himself as pro-cryptocurrency, and the weekend shootings have raised the possibility of his re-election, which has definitely given a huge boost to the cryptocurrency market and Bitcoin bids,” said Tony Sycamore Definitely a standout.
Conference organizers said last week that Trump will speak at the Bitcoin 2024 conference in Nashville, Tennessee, on July 27.
Bitcoin got off to a strong start this year after the launch of an exchange-traded fund in the United States, pushing its price to a record $73,803.25 in mid-March, but has struggled since then. The price fell to a more than four-month low in early July as traders worried that Japanese exchange Mt. Gox might dump the token.
“We had four weeks of decline after the Mt. Wouldn’t be surprised.