Bitcoin Climbs on Election Day: What a Trump or Harris Win Could Mean for Crypto

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On Election Day, Bitcoin and other cryptocurrencies saw gains as both presidential candidates signaled crypto-friendly stances. Bitcoin rose 2.4% to $68,872, with projections suggesting a potential surge above $80,000 if Trump wins, while a Harris victory could drop it to $50,000. Other tokens, including Ethereum, Solana, and Dogecoin, also jumped, with Dogecoin soaring 11%.

The crypto industry, which has invested over $130 million in lobbying this election cycle, is optimistic about bipartisan support in Congress regardless of the outcome. Trump's promise of a “Bitcoin strategic reserve” and his pledge to replace SEC Chair Gary Gensler have garnered enthusiasm from crypto bulls, while Harris has emphasized blockchain as part of her economic vision. Crypto-related stocks like Coinbase and Robinhood edged up in Tuesday’s premarket as investors tracked the election’s potential impact on digital assets.

​As the race tightens, crypto markets appear primed for more volatility, positioning cryptocurrencies as key election players.