TL;DR
- PolitiFi meme coins experienced substantial volatility following a recent ruling by the US Supreme Court.
- Trump has softened his stance on cryptocurrency, now presenting himself as a pro-crypto candidate, accepting donations in digital assets, and pledging to increase BTC mining efforts in the US.
The Big Gainers
The US presidential candidate from the Republican party – Donald Trump – recently secured a major court victory. The billionaire, who has issues with the law, was entitled to some degree of immunity from criminal prosecution.
Trump was previously charged for his alleged efforts to overturn the results of the 2020 election in an attempt to stay in power. He then lost to current president Joe Biden. The latter described the Supreme Court ruling as a “dangerous precedent” and a “terrible disservice” to Americans.
Meme coins related to Trump and Biden experienced a substantial uptick following the announcement. Trumpie (TRUMPIE), Super Trump (STRUMP), Donald Tremp (TREMP), and Jeo Boden (BODEN) are some of the top gainers. Interestingly, the biggest Trump-themed token – MAGA – is slightly in the red.
Trump-related meme coins headed north again at the end of last month when the two presidential candidates met in their first public debate. Many Americans expressed concerns about Biden’s age and fitness for office as he struggled to answer some of the questions and seemed quite shaky.
Latest polls indicate that Trump has slightly increased his lead over his opponent: 41.8% versus 40.4%. Robert Kennedy, who collects 9.1% of voter support, is currently in third place.
Is Trump the Crypto Choice?
Donald Trump was a fierce critic of the cryptocurrency industry and Bitcoin (BTC) while serving as America’s 45th president. At the beginning of this year, though, he started softening his tone, saying he can “live” with the primary digital asset:
“You probably have to do some regulation, as you know. But many people are embracing it, and more and more, I’m seeing people wanting to pay “bitcoin, “and you’re seeing something that’s interesting. So, I can live with it one way or the other.”
A few months later, he described himself as the right choice for the pro-crypto voters, claiming his opponent – Joe Biden – and his administration are against the industry:
“I’m fine with it. I want to make sure it’s good and solid and everything else. But I’m good with it. And if you like crypto in any form (and it comes in many different forms), if you are in favor of crypto, you better vote for Trump.”
Last but not least, the billionaire pledged to increase the BTC mining efforts of the US, outlining the process as the “last line of defense against a CBDC.” Meanwhile, Trump’s presidential campaign started accepting donations in cryptocurrencies.
