Bitcoin’s price rose by 1.1% during the presidential debate on Thursday night. This happened when Donald Trump extended his lead over Joe Biden in prediction markets. Before the debate, Bitcoin was trading at $61,439. Â
It quickly climbed to $62,152 while Trump and Biden answered questions from CNN moderators. By publication time, Bitcoin had settled at $61,362, according to TradingView.Â
Prediction market data from PredictIt revealed a significant increase in Trump’s odds of winning the presidency. Trump’s share prices on the platform rose from $0.53 to $0.63; Biden’s fell from $0.48 to $0.37, creating a 26-point gap. Observers noted Biden’s struggles with some answers, leading to criticism of his performance on social media. Â
Both candidates were reported to have made misleading claims during the debate. CNN fact-checkers highlighted inaccuracies in Trump’s statements about abortion and economic issues under Biden’s presidency.Â
Although not discussed in the debate, cryptocurrency has become a significant election issue. Trump recently promised to end Biden’s “war on crypto” if elected. In March, Trump expressed his intention to make the U.S. a leader in crypto technology, criticizing Biden’s approach.Â
Earlier this month, Biden vetoed a resolution that would have repealed an SEC guideline preventing banks from holding crypto assets. Biden stated he would not pass legislation that could “jeopardize the well-being of consumers and investors.”Â
