The 2024 U.S. presidential election concludes with Kamala Harris experiencing a major defeat as Donald Trump claims victory, bringing a pro-crypto agenda to the forefront.
Highlights:
- Kamala Harris trails with 224 electoral votes, while Trump secures 267.
- Support for pro-crypto candidates surged in this election.
- The crypto market responded with bullish trends, especially in BTC and DOGE.
Republican candidate Donald Trump emerged victorious over Democrat Kamala Harris in the tightly contested U.S. presidential election. Trump secured 286 electoral votes, surpassing the 270 needed for victory, while Harris gained only 224 votes. This win positions Trump, a known advocate for crypto, back in the national spotlight.
Trump’s Victory and Harris’s Loss
According to election data from Stand With Crypto, Trump leads with 286 electoral votes, while Harris garnered 47.4% of the vote, amounting to 224 electoral votes. Other candidates like Jill Stein and Robert Kennedy received 0.4% each. These results confirm Trump’s victory in 2024 and Harris’s loss.
The election saw a notable increase in support for pro-crypto candidates, highlighted by a post from Thinking Crypto founder Tony Edward, who pointed out the setbacks faced by anti-crypto contenders. Trump’s pro-crypto stance drew attention, especially as Kamala Harris’s policies showed less interest in digital assets. Additionally, a recent CoinGape report shows that pro-crypto candidates have gained a stronghold in Congress, with 242 elected to the House compared to 113 anti-crypto members, and 14 pro-crypto senators against 9 anti-crypto members.
With Trump back in office, the crypto landscape is optimistic. He previously pledged to remove SEC Chairman Gary Gensler and proposed establishing a national Bitcoin fund to make the U.S. a leader in digital assets. This victory aligns with a larger pro-crypto shift in government.
Impact on the Crypto Market
As Kamala Harris’s defeat became clear, the crypto market showed a bullish response. Bitcoin reached a new all-time high, and the global market cap hit $2.4 trillion, indicating increased market optimism. Meme coins also gained momentum; Dogecoin, benefiting from Elon Musk’s involvement in the Trump administration, surged nearly 13% to $0.1902, even briefly exceeding $0.20.
In summary, Harris’s loss marks a pivotal moment in the 2024 U.S. election, with Trump’s pro-crypto stance stirring a wave of positivity across the digital asset market.
