Crypto at the Time of US President Elections

by in Cryptocurrency News

Bitcoin at the time of elections

There are different opinions about the first debate of the 2020 US presidential elections. This event is of course being discussed by crypto users a lot.

Recall that last time there was a presidential debate, Bitcoin’s Price Was $630. Many things have changed since 2016, but one thing is undeniable: Bitcoin had a huge success.

The first debate was between the current President of the United States, Donald Trump, and his main contestant for the upcoming elections – the former Vice President of the country – Joe Biden. Many consider the debate to be weak as it was full of absurd remarks and interruptions. Anyway, many issues were discussed concerning the US economy, healthcare, social situation, and other pressing matters.

The crypto community was not impressed with either candidate’s performance last night. Nevertheless, betting portals show that Biden is leading by 55-65%. It’s true that the US economy has recovered from the coronavirus-induced crash, but more than 40 million US jobs were lost because of the pandemic. In just a few months, the US Government has printed trillions of dollars, significantly devaluing the national currency, putting in doubt its global reserve currency status.

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The excess of US dollars is something that will be paid in the years to come. All of this makes Bitcoin’s scarcity a lot more appealing. After all, you can’t print it away whenever you want to rescue failing CEOs, as Social Capital's CEO Chamath Palihapitiya said.