Popular betting market Polymarket now has Trump’s odds of winning as above 80%, as Trump’s odds of securing victory in important swing states like Pennsylvania surge.
The Bitcoin (BTC) price just surged to new record highs above $75,000, as confidence grows that pro-crypto ex-US President Donald Trump is on course to secure victory in the 2024 US Presidential election.
Bitcoin was last trading around $74,000 and more near-term volatility is highly likely to ensue. But if Trump does win, as is now the market’s base-case, there is scope for the “Trump trade” to extend in the coming weeks and months.
As things stand, Trump leads Democrat candidate Harris in Pennsylvania, Virginia, North Carolina and Georgia at present, and is currently on course to secure more than 270 electoral college votes required to secure the presidency.
Trump came out as resoundingly pro-crypto earlier this year – he called for the establishment of a national Bitcoin stockpile and pledged to fire anti-crypto SEC chair Gary Gensler on his first day in office.
He has also promoted a DeFi project called World Liberty Financial, which his family is heavily involved in.