BTC Rally Is Inevitable If Trump Wins, Claims Vitalik Buterin, Crypto-Friendly Politician, Against Endorsing Politicians

Crypto-friendly Canadian billionaire entrepreneur Mark Cuban told X that if Trump wins the presidential election, his tariffs and tax cuts will cause inflation, which, coupled with global uncertainty over the US geopolitical role, is ripe for BTC to rise. "It's important to remember that BTC is a global market. Furthermore, the maximum supply is limited to 21 million. Imagine what would happen if BTC became a global safe haven due to geopolitical uncertainty and the decline of the dollar as a reserve currency. Countries around the world - and all of us - could start buying BTC to protect our assets. Does it sound crazy? It's already happening in hyperinflationary countries," he added.

On the other hand, Ethereum co-founder Vitalik Buterin posted that he is against being loyal to a particular politician based on who is friendly to crypto. "We shouldn't let politicians think they only need to support crypto to win voters' support," he wrote, "We should look at candidates' past crypto views. We need to find out their underlying values and see which side they would prioritize in a conflict. Some have not clearly articulated their positions on privacy in communications, digital identity, and access to information."

Meanwhile, on the decentralized prediction market Polymarket, there is a 65% chance that US President Joe Biden will drop out of the US presidential race. The amount of money wagered on this is $16.62 million. Earlier, CNN reported that Biden had tested positive for COVID-19 and canceled his speech on Sunday (local time). Multiple U.S. media outlets have also mentioned the possibility of Biden's resignation.