The 60th US presidential election, which has attracted global attention, will be held next Tuesday (11/5). Elon Musk, known as the "Musk Consultant", who is the CEO of Tesla, is also a staunch supporter of the Republican presidential candidate - Donald Trump in this US presidential election.
The origin of the "Musk Consultant"? Recommended reading:The man who can make money by tweeting - Elon Musk, the "Musk Consultant"
The US Federal Election Commission has disclosed that Musk has donated about $75 million in just three months to support Trump. Recently, Musk even announced that he would give away $1 million to a voter who supports freedom of speech and the right to bear arms every day. Although the raffle has been temporarily suspended due to the possibility of illegality and suspected vote-buying, it still shows Musk's determination to support Trump.
Trump's election campaign is particularly focused on attracting young voters who invest in cryptocurrencies, so the closer the US presidential election, the more the cryptocurrency price is likely to be affected. Polymarket, a decentralized prediction market, is currently the most well-known cryptocurrency prediction platform. The way Polymarket works is to use cryptocurrencies to place bets, and as the election approaches, more and more whales are betting, causing traditional media to also start citing the pre-election data on Polymarket. (Taiwan currently cannot access Polymarket)
Further reading:Tracking the presidential election gambling case! Cryptocurrency betting caught, what do the parties involved say?
According to Cointelegraph report, as of 10/28, the data on Polymarket shows that Trump's chances of winning are over 66.3%! And on that day, a whale transferred 2.03 million USDC, that is, $2.03 million, from Binance to bet that Trump will win the US presidential election this time. However, a BBC report shows that Trump's opponent, Democratic candidate Kamala Harris, leads Trump 48% to 47% in the polls.
The recent performance of the cryptocurrency market can also be observed from the data of Polymarket. Most cryptocurrency investors believe that Trump will win, which has driven the overall market to rise. Bitcoin has broken through $70,000 again since the beginning of this week, and even reached a high of $73,650 this morning (10/30). In addition to the approaching election date, some people also believe that October is rightly called "Uptober", because since 2013, there have only been two Octobers with negative returns, so October is called "Uptober".
With less than a week to go until the US presidential election, investments still need to be made with caution, and we also call on everyone not to treat the presidential election as a betting pool, be careful not to break the law! So will Bitcoin reach $100,000 by the end of this year? Let's wait and see, and observe the changes!
( * The content of this article does not constitute any form of investment advice. Any investment has risks, please research and consider carefully before deciding!)
〈The US presidential election is approaching! Bitcoin breaks through $73,650, who is predicted to win the election?〉This article was first published on《NONE LAND》.
