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Bitcoin surges as betting markets show preference for Trump during debate against Biden

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Bitcoin Price Surges 1.1% During Trump-Biden Debate, Trump Widens Lead on Betting Markets

The recent presidential debate between Donald Trump and Joe Biden not only sparked political discussions but also had an unexpected impact on the price of Bitcoin. As the two candidates battled it out on stage, Bitcoin saw a 1.1% jump in its value, reaching as high as $62,152 before settling back down to $61,362.

The surge in Bitcoin price coincided with a shift in betting markets, where Trump’s odds of winning the presidency surged while Biden’s chances plummeted. This change was attributed to Biden’s perceived lackluster performance during the debate, with many viewers noting his struggles to finish sentences and maintain coherence.

Social media was quick to criticize Biden’s performance, with even Trump pointing out his opponent’s shortcomings. Despite Trump making over 30 false and misleading claims during the debate, it was Biden who faced the brunt of the criticism for his perceived lack of clarity.

Interestingly, cryptocurrency has emerged as a key election issue, with Trump vowing to end Biden’s “war on crypto” if elected. Biden, on the other hand, vetoed a resolution that would have allowed banks to hold crypto assets on their balance sheets, citing concerns for consumer and investor well-being.

As the election draws nearer, it seems that the fate of Bitcoin and the broader cryptocurrency market may be intertwined with the outcome of the presidential race. Investors and enthusiasts will be closely watching how the candidates’ stances on crypto evolve in the coming months.

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