Coinbase, Bitcoin Rally on Trump Reelection Odds

Trump has cast himself as a pro-crypto candidate.

The price of bitcoin and shares in crypto exchange Coinbase jumped on Monday, as investors boosted bets that pro-crypto candidate Donald Trump will win the November presidential election following an assassination attempt on Saturday.

“This whole [bitcoin price] move seems to be caused by the market pricing in a Trump win at the coming election (similar to Reagan after a failed assassination attempt in 1981) and this is positive for crypto prices because of his overtly pro-crypto stance,” crypto trading firm QCP wrote in market commentary on Monday.

Coinbase shares jumped 12% while bitcoin rose more than 4% to $63,299 as of midday New York time Monday. Trump is still set to attend the Bitcoin Conference in-person in Nashville on July 27, the conference’s organizer announced on X.