Bitcoin Rises as Trump Shooting Boosts Reelection Odds

Bitcoin gains ground after shooting at Donald Trump rally, suggesting incident could increase his chances of winning the presidential election.

The former president, who positioned himself as pro-cryptosaid he was shot He was shot in the right ear after a shooting at his political rally in Pennsylvania on Saturday. His campaign said he was “doing well” after the incident and was looking forward to the Republican National Convention that begins Monday in Milwaukee.

Donald Trump’s chances of becoming president again have increased after today’s events, according to data from PredictIt. Images of a defiant Trump — his fist raised above his head and his right ear bloodied, with the American flag flying in the background — have been circulating on social media and television following the attack.

Trump’s campaign said he would attend the convention. President Joe Biden said he was glad Trump was safe and condemned the violence.

Markets are likely to react with increased volatility and could repeat the trades that took place when last month’s debate went in Trump’s favor. In that case, the U.S. dollar appreciated and Treasury yields climbed.

Bitcoin rose 2.1% to $59,849.84, before paring that advance to trade at around $59,426 as of 10:25 p.m. New York time. The most-traded crypto token had stabilized in recent days on the optimism aroused by the ETFs of titans, in particular Black rock Inc. and Fidelity Investments provide the kind of basic demand that can moderate price fluctuations.

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