The upcoming presidential debate between Donald Trump and Kamala Harris has captivated the attention of political pundits and crypto enthusiasts alike. However, while the event is anticipated to spark discussions on various critical issues, cryptocurrency and Bitcoin are unlikely to be among them, according to the betting odds on the decentralized prediction platform Polymarket.
As of this writing, the odds of Trump uttering the words “cryptocurrency” or “Bitcoin” stand at a mere 14%, a significant drop from the 23% probability observed just a few days ago. Notably, wagers worth over $129,000 have been placed on this occurrence, indicating a considerable interest in the topic. Despite this, the odds for Harris mentioning cryptocurrency and Bitcoin are even lower, currently sitting at 10%, down from 14% during the weekend.
This lack of expectation for crypto mentions comes despite the significant implications a presidential victory could have for the cryptocurrency market. A Bernstein report suggests that a Trump presidency could propel Bitcoin to new heights, potentially reaching $80,000 to $90,000 by the end of Q4. This optimistic outlook is attributed to Trump’s vocal support for the asset class. However, a Harris presidency could see Bitcoin’s price drop to the $30,000 to $40,000 range. This uncertainty is fueled by the absence of cryptocurrency mentions in Harris’s speeches and policy pronouncements.
It’s worth noting that while Harris hasn’t explicitly outlined her stance on cryptocurrencies, her campaign team has actively engaged with prominent industry figures like Coinbase and secured the support of Ripple co-founder Chris Larsen. This suggests a potential openness to the crypto space, although her specific policies remain unclear.
This upcoming debate marks the second of the election cycle and the first between Trump and Harris, who replaced Joe Biden after his withdrawal from the race following the first presidential debate. Notably, the previous debate between Biden and Trump saw no mentions of cryptocurrency or Bitcoin.
With the outcome of the election potentially holding significant ramifications for the future of Bitcoin, the crypto community will undoubtedly be closely watching the debate, hoping for even a fleeting mention of the asset class. Whether or not cryptocurrencies make an appearance in the heated exchange, the event is sure to generate significant interest and speculation among crypto enthusiasts.
