Donald Trump’s defiant response to an assassination attempt at a campaign rally has boosted speculation that he has a better chance of winning the election, sending Bitcoin above $60,000 and boosting the market capitalization of other cryptocurrencies, Bloomberg reported.
Why did Bitcoin rise after the assassination attempt on President Trump?
According to a report from Forbes, Republican presidential candidate and former US president Trump is known to be a supporter of cryptocurrencies, and at an event in Washington DC last month, he said, “The future of Bitcoin is built in the United States and not exported overseas.”
This is in stark contrast to the Biden administration’s anti-crypto stance. As Forbes reports, Trump has supported crypto custody rights and even accepted campaign contributions in Bitcoin, Ethereum, Solana, Dogecoin, and Shiba Inu.
What happened at Donald Trump’s rallies?
The former president was campaigning at the Butler Agricultural Show in Butler, Pennsylvania, when an assailant opened fire.
The Federal Bureau of Investigation (FBI) identified the shooter as Thomas Matthew Crooks, 20. He was shot and killed by law enforcement at the scene.
CNBC reported that President Trump was shot in the ear, one attendee was killed and two were seriously injured.
His campaign said after the incident that Trump was in “good spirits” and looking forward to traveling to the Republican National Convention in Milwaukee on Monday.
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What happened to the assassination attempt on President Trump?
Trump’s defiant reaction to the shooting, gesturing to the public with his bloodied face while being assisted by US Secret Service agents, has increased his chances of becoming president, Bloomberg reported, citing data from PredictIt, a political and financial event forecasting service owned by New Zealand’s Victoria University of Wellington.
According to reports, images of a defiant Trump with his fist raised above his head, blood coming from his right ear and an American flag flying in the background have been circulating on social media and television since the attack.
President Joe Biden said he was glad Trump was safe and condemned the violence.
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How much have Bitcoin and other cryptocurrencies risen since the assassination attempt on President Trump?
Bitcoin was up 2.7% to $60,160.71 as of 1:05 a.m. New York time, Bloomberg reported.
Dogecoin, Solana, XRP and other cryptocurrencies also rose by around 5% or more, according to a CNBC TV18 report citing Coinmarketcap.
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