With only one week left until the highly awaited 2024 United States Presidential Election, the rivalry between the two primary candidates has escalated. It’s evident that this year’s election has a specific emphasis on digital currency. This has attracted increased interest from notable personalities in the cryptocurrency sector.
Michael Saylor stirs up debate
Adding fuel to the fire, the founder of MicroStrategy, Michael Saylor, raised a significant question: who, between Donald Trump and Kamala Harris, would be more beneficial for Bitcoin [BTC]?
In a recent post, Saylor initiated a survey posing this question.
By October 27th, with the poll still open for another 18 hours, Trump was in the lead with 91% of the 61,238 total votes. Moreover, the comments section also exhibited a strong inclination towards Trump over Harris.
The Motivation Behind Saylor’s Recent Political Engagement
Saylor’s recent statements have sparked much speculation within the cryptocurrency community. For those not in the loop, he initially advised Bitcoin holders to trust large, “too big to fail” financial institutions, suggesting they were better equipped to handle substantial BTC holdings.
However, he later changed his stance, advocating for both individuals and institutions to have complete independence in determining how to safeguard and manage their Bitcoin assets.
This shift led to speculation that his credibility might be at risk. This led some to interpret the polling initiative as an effort by Saylor to uphold his reputation as a staunch supporter of Bitcoin.
Comparison between Polymarket and National Polls
In the midst of the election race, indicators from Polymarket suggest that Donald Trump is in the lead with 66.3% of the votes, while Kamala Harris trails at 33.8%.
Despite the substantial margin in Polymarket forecasts, national polls present a much tighter scenario.
According to surveys conducted by the New York Times and CNN, both Harris and Trump were neck and neck. Harris held 48% of the vote compared to Trump’s 47%. This significant contrast underscores the unpredictability of the election and the diverse viewpoints of various polling platforms.
Trump versus Harris Standoff
As anticipated, a recent report from CoinShares indicated a noticeable uptick in digital asset inflows, reaching $407 million, largely spurred by investor confidence in a potential Republican win.
On the flip side, Kamala Harris also garnered support from prominent personalities such as Chris Larsen, the co-founder, and executive chairman of Ripple. However, when it comes to meme coins inspired by these political figures, there was a distinct divergence.
The meme coin tied to Trump, MAGA TRUMP, surged by 13.4% in the last 24 hours, whereas the Kamala Harris-themed token [KAMA] witnessed a decline of 4.6%.
Amidst this escalating election showdown, Bitcoin also saw positive momentum. The flagship cryptocurrency surged to $68,395.01, marking a 2.01% increase in the past day as reported by CoinMarketCap.