Wow! According to a shocking market commentary released this week by Galaxy Digital, a giant in the crypto asset world, voters who hold crypto assets such as BTC may actually decide the fate of the next president of the United States with their votes!
This report is like a bombshell, revealing that the group of Crypto asset holders is growing rapidly, especially among young voters and people of color. They are like lurking deep-sea monsters that are about to surface.
And in the fierce battle between President Biden and former President Trump, these mysterious "Crypto voters" may become the key chess pieces that determine the outcome!
Galaxy Digital's report proclaims like a prophet: "As November approaches, investors will turn their attention to the impact of the vote on the market, and the Crypto asset industry will be more important than ever!"
The report also cited the results of a poll by Crypto venture capital giant Paradigm, which showed that as many as 19% of registered voters own Crypto assets, and more than 11 million people hold Crypto assets worth more than $1,000!
What’s even more shocking is that Paradigm’s survey also showed that Crypto asset owners’ support for Trump was as high as 48%, while Biden’s support was only 39%!
While other national polls also show a fierce competition, Paradigm's survey reveals a shocking phenomenon: some Crypto asset holders who originally supported Biden are switching to Trump, which may be related to "actions taken by certain agencies of the Biden administration."
Although it did not specify what these actions were, the crypto asset industry expressed strong dissatisfaction with the SEC's (Securities and Exchange Commission) heavy-handed regulatory measures under Gary Gensler, believing that they relied too much on enforcement actions rather than clear rules to govern digital assets.
Biden's top advisers are also calling for stricter regulation of crypto assets, while congressional Republicans are trying to pass legislation to limit federal oversight of crypto assets.
Meanwhile, Trump has vowed to block the creation of a central bank digital currency (CBDC) if re-elected, making digital assets a central issue in the campaign.
Paradigm put it bluntly: "Obviously, one of the biggest concerns of the Crypto asset holder community is how policymakers will treat Crypto assets." Galaxy Digital's report holds the same view.
Galaxy Digital's latest report is even more shocking: "Did you know that only 32% of people with voting rights own stocks? This is enough to prove that Crypto assets are deeply rooted in the hearts of Americans!"
Political action committees (PACs) are also actively involved in the Crypto asset war, investing huge amounts of money to influence key 2024 races.
Among them, the leading PAC Fairshake has raised more than $85 million from Crypto asset giants such as Coinbase and Andreessen Horowitz!
They have spent more than $10 million to help defeat a Democrat who is skeptical of crypto assets in the California Senate primary.
Now, Fairshake is targeting four key Senate races: Ohio, Montana, Michigan and Maryland, which will determine control of the Senate.
Fairshake will be paying particular attention to the general elections in Ohio and Montana, as incumbent Democratic senators in both states have questioned the necessity of Crypto assets.
While the PAC has not yet announced a candidate it supports, Matthew Sigel, head of digital asset research at investment firm VanEck, believes that the Biden administration is hindering the widespread adoption of crypto assets, while Trump's victory could drive a boom in the industry.
“The Biden administration seems less keen on getting banks and brokers involved in digital assets, but if there is a change of president, we may see more support for the industry,” Sigel told Decrypt.
The rise of crypto asset holders as an electoral force coincides with a surge in popularity for BTC and other digital assets.
Driven by the first BTC ETFs in the United States, this Crypto asset, known as "digital gold", hit an all-time high of over $73,000 last month!
Galaxy Digital’s report excitedly states: “‘Digital Gold’ Breaks $70K Mark for the First Time on Continued Demand from Newly Launched Spot BTC ETF!”
“This month, Bitcoin’s mainstream adoption has gained further broad support, including growing interest from financial advisors and pension funds.”
However, the report also reminds us that next week’s BTC mining reward “halving” is approaching, which has been a catalyst for price surges in the past. But given that BTC has already surged to new highs before, this cycle may not have the same effect.
Nonetheless, as the “dark cloud” of FTX founder Sam Bankman-Fried’s criminal case gradually dissipates, Galaxy Digital believes that the crypto asset industry is poised for rapid growth as the 2024 election approaches.
The report concludes: “We look forward to clearing out bad actors and creating a brighter path for the digital asset space, with a future filled with endless possibilities!”
Today's market analysis:
Yesterday, the Bitcoin market was as thrilling as a roller coaster! The market was like a rocket taking off in the morning, and it stretched strongly to the 67,000 mark, which made countless investors' eyes light up and their hearts beat faster. However, the good times did not last long. Then the market pressure suddenly increased, and the price of the currency plummeted all the way to a low of 62,200 like a kite with a broken string. The fluctuation range was as high as more than 4,000 points in a short period of time, which was jaw-dropping!
At present, the price of the coin is fluctuating around 63,000, as if looking for the next direction. Judging from the current market rhythm, the short-selling forces seem to have the upper hand, and the rebound is weak and powerless, which makes people sweat about the market before the halving.
In this crazy market, we remind you to be vigilant against the market manipulation by the dog dealers and not be fooled by the short-term fluctuations. When placing orders, you must take good risk control, proceed steadily, and do not seek temporary gains.
The operation suggestions are as follows: Bitcoin can be decisively shorted in the range of 63500-64000, with the target price set at 62000-61000. Remember, the market is unpredictable, so you must stay calm and respond flexibly to stay invincible in this digital currency carnival!
