As a seasoned researcher who has witnessed the rise and fall of numerous political figures, I can confidently say that the 2024 US election has indeed taken an unexpected turn with the re-election of Donald Trump. My personal journey in this field has taught me to expect the unexpected, but even I was caught off guard by this turn of events.
In an election with high stakes and tense moments, including two attempted assassinations during the campaign, Donald Trump has emerged victorious in the U.S. presidency. By triumphing in key battleground states and gathering more than the required 270 electoral votes, he secures a second term as president. Meanwhile, his competitor, Kamala Harris, accumulated 224 electoral votes in her bid for the presidency.
Recently, Trump, known as a strong proponent of cryptocurrency, has placed digital assets at the heart of his economic plans, pledging significant regulatory reforms and growth in this field. Although he publicly endorsed crypto, thereby gaining industry backing, Harris has yet to express clear views on her position regarding it.
Bitcoin Whales Accumulate Amidst Trump Victory
As an analyst, I found myself invigorated by the fervor surrounding his triumph, which in turn ignited a significant upswing across digital asset markets. This surge propelled bitcoin to an unprecedented peak of $75,000. This upward trend was bolstered by the arrival of new BTC “whales” – large-scale investors who seized the moment to augment their already substantial holdings.
Indeed, as per the recent report by the crypto analytics platform Lookonchain, it appears that 11 new significant Bitcoin wallets emerged, transferring a substantial amount of 1,807 BTC, equivalent to approximately $132 million, out of Binance in a single hour on November 6th. This mass withdrawal suggests an increase in investor trust as former President Trump re-enters the White House.
Before his predicted victory in 2024, Trump made some significant commitments to crypto supporters, firstly by promising to keep the federal government from liquidating its bitcoin holdings. Addressing the year’s biggest Bitcoin gathering, Trump declared that he would preserve rather than sell the Bitcoin reserves seized from financial offenders.
Apart from this, he pledged a significant overhaul in financial governance leadership, indicating his plan to dismiss SEC Chairman Gary Gensler on his inauguration day. Moreover, he swore to establish the U.S. as the world’s primary hub for bitcoin mining by ensuring all BTC is mined within our borders.
Trump Bettors to Win Big on Polymarket
2024 US Election Highlights Increased Focus on Digital Assets in Politics as Key Players Call for More Defined Regulations to Promote Growth. This call was emphasized by crypto investors making daring, high-risk bets on election results, a trend particularly noticeable with the big investors placing large wagers on Trump’s victory. The decentralized prediction platform, Polymarket, has experienced increased activity from these “whales” betting on Trump.
Following a remarkable turnaround in bets placed in September, Donald Trump consistently held the top position on Polymarket throughout October, garnering significant wagers from high-profile users. Among the biggest winners are users “Theo4,” projected to earn approximately $20.4 million, “Fredi9999,” slated for a profit of around $15.6 million, and “zxgngl,” who is expected to pocket roughly $11 million, as per the latest report by CryptoPotato.
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2024-11-06 15:38