Crypto markets are on a care watch as President Joe Biden’s Democratic presidential nomination is indicating a certain trajectory for the upcoming elections. Bloomberg reported, while citing the Associated Press that President Joe Biden secured the Democratic presidential candidacy on Tuesday by winning a sufficient number of delegates.

With a primary win in Georgia, Biden easily surpassed the necessary 1,968 delegates, as reported by the AP. In the general election of 2020, he won that state by a slim margin.

Trump’s Colorado Green Chit

President Joe Biden’s Democratic presidential nomination comes just days after Donald Trump had secured a green signal for his presidential race. Trump’s re-entry into the elections gave crypto markets a slight hope of maybe a little less strict laws about the crypto industry. The Biden Government has already been on the wrong cards of the crypto voters. The decision to give the EIA to collect data about energy consumption during crypto mining was one of the most controversial so far in the election race. The move could see the Biden administration losing some crypto votes.

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Why Are Crypto Voters Important?

It is clear by now that people who are in favor of cryptocurrencies want lawmakers to understand and accept them with greater openness as well as better laws. The loss of Katie Porter in the Senate is a perfect example of this. There is a clear connection between Congresswoman Katie Porter’s decision to support Senator Elizabeth Warren’s anti-crypto stance and Schiff’s triumph against her in the California Senate Primary. To increase the number of bitcoin players involved in US politics, people have been supporting John Deaton since he announced he would be running against Elizabeth Warren for the US Senate seat. Warren, on the other hand, has only recoiled. Senator Elizabeth Warren also rallied her support system in response to reports that she may face opposition for her Senate seat.

According to Forbes, one in five Americans presently possesses digital assets. Specifically, 52 million individuals. The amount is significant enough to have a significant impact on the outcome of the US presidential election. Therefore, any government hoping to win an election would probably need to win over Bitcoin enthusiasts.

 

The post US 2024 Election: Joe Biden Nomination Sparks Crypto Market Attention appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am