Bitcoin surpassed $60,000, and other cryptocurrencies saw market value increases following Donald Trump’s resolute response to an assassination attempt during his campaign rally, fueling speculation that his election chances have improved, Bloomberg reported.
Why Did Bitcoin Rise After the Assassination Attempt on Trump?
The Republican presidential candidate and former U.S. President has gained a reputation for being pro-crypto, stating at a Washington, D.C. event last month, “I will make sure that the future of bitcoin will be made in the U.S. and not driven overseas,” according to a Forbes report. This stance contrasts sharply with the Biden administration’s anti-crypto position. Trump has even accepted campaign donations in bitcoin, ethereum, solana, dogecoin, and shiba inu, supporting the right to crypto custody, as noted by Forbes.
What Happened at Donald Trump’s Campaign Rally?
The ex-president was campaigning at the Butler Farm Show in Butler, Pennsylvania, when an assailant opened fire. The FBI identified Thomas Matthew Crooks, 20, as the shooter, who was shot and killed by security officials on the spot. Trump was shot in the ear, one attendee was killed, and two others are in critical condition, according to a CNBC report. His campaign stated that he was “fine” after the incident and looks forward to attending the Milwaukee Republican National Convention on Monday.
What Was the Outcome of the Assassination Attempt on Trump?
Trump’s chances of becoming president increased after his defiant response to the shooting, where he gestured to the public with a bloodied face while being assisted by U.S. Secret Service personnel, Bloomberg reported, citing data from PredictIt. Images of Trump with his fist raised, his bloody right ear, and the American flag waving in the background have trended across social media and television. President Joe Biden expressed relief that Trump is safe and condemned the violence.
How Much Did Bitcoin and Other Cryptocurrencies Rise After the Assassination Attempt on Trump?
Bitcoin rose up from 2.7% to $60,160.71 as of 1:05 a.m. in New York, according to Bloomberg. Dogecoin, Solana, XRP, and other cryptocurrencies also gained around 5% or more, according to a CNBC TV18 report, citing CoinMarketCap.
