New York, USA.- Bitcoin touched $61,000 after Donald Trump’s defiant response to an assassination attempt sparked speculation that the pro-cryptocurrency former president’s chances of winning re-election have increased.
The largest digital asset rose as much as 2.2 percent to $60,850 as of 7:03 a.m. in Singapore, the highest level in more than a week.
Trump said he was shot in the right ear after gunfire erupted at a rally in Pennsylvania on Saturday, sparking global condemnation of political violence and shaking the US presidential campaign.
Some analysts expect sympathy and anger over the incident will likely galvanize support for the presumptive Republican presidential nominee, who said he was “doing fine” after the incident and looked forward to attending the Republican National Convention that begins Monday in Milwaukee.
A key question in global markets now is whether Trump’s so-called trade deal will gain traction, based on the argument that his return to the White House would bring tax cuts, higher tariffs and looser regulations.
Trump has also increasingly embraced the cryptocurrency industry in a bid to woo voters. Last week, organizers of a bitcoin conference to be held in Nashville, Tennessee, on July 27 said he plans to give a speech at the event.
Bitcoin “gained momentum” after the assassination attempt bolstered Trump’s re-election chances, Tony Sycamore, a market analyst at IG Australia Pty, wrote in a note.
Meeting with miners
Trump met with bitcoin miners in June and in a subsequent post on his Truth Social account said that mining may be “our last line of defense against a CBDC,” referring to a central bank digital currency. He added that he wants all remaining bitcoin to be “MADE IN THE USA!!!”
The cryptocurrency sector is trying to bolster candidates seen as pro-digital assets, including through large donations to Fairshake’s political action committee.
The industry has emerged as an influential player in the 2024 election, in part to counter a regulatory crackdown led by the Securities and Exchange Commission.
The Trump campaign is accepting donations in digital assets and a person familiar with the matter previously said Trump discussed crypto policy with billionaire Elon Musk.
Bitcoin hit a record high of nearly $74,000 in March, boosted by demand for U.S. exchange-traded funds. The token then retreated amid muted inflows, apparent sales of seized tokens and fears of divestitures by creditors of the failed Mt. Gox exchange.
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