Crypto supporter Donald Trump has received clearance from the US Supreme Court to contest the 2024 US elections. According to a Wall Street Journal report, Donald Trump’s name was added back on Colorado’s ballot by the Supreme Court. Trump’s election run nod also comes at a time when Bitcoin prices have hit the much-waited milestone of $65,000. This has kept crypto markets bullish.
Donald Trump Gets Clearance for 2024 US Elections
The WSJ report further highlighted that after holding that states cannot bar presidential candidates from being elected because they participated in an act of rebellion or insurrection against the United States, the Supreme Court put Donald Trump’s name back on the Colorado ballot.
The ruling on Monday effectively ends a string of ballot challenges contending that Trump is ineligible to serve as president again. The dicey stance came due to a long-standing constitutional provision that prohibits former officials who participated in insurrection or rebellion from holding public office again.
Trump’s ballot clearance will likely keep crypto markets afloat as people have been keenly anticipating a political leader that supports decentralized currencies and crypto markets.
Biden Administration Not on Good Crypto Radar
Previously, the administration of President Joe Biden had directed the EIA to do the data collecting regarding energy consumption by crypto miners. Since US officials tried to look into how much electricity was used in the process, there has been increased scrutiny of the Bitcoin mining industry. The question of cryptocurrency mining power consumption is contentious; yet, data collection was required just before the election. This raises concerns that Biden 2.0’s government could not be in favor of the bitcoin sector.
The move faced a lot of criticism from market participants with Riot Platforms and the Texas Blockchain Council suing the EIA. The lawsuit claimed that the Energy Information Administration (EIA) was not authorized to collect detailed information about how much electricity cryptocurrency mining companies used. The lawsuit also claimed that the EIA started its investigation illegally to obtain data on the energy consumption of businesses that mine cryptocurrency.
With the Biden government not being on a good note with crypto voters, it will likely help Donald Trump garner better attention for the upcoming elections.
Crypto Voters to Hold Great Importance in 2024 US Elections
Cryptocurrency voters will be crucial in the next US election in 2024. Forbes reports that one in five Americans currently owns digital assets. 52 million people, precisely. This amount has the power to significantly alter the trajectory of the next US presidential election. The political composition of the demography is maybe the most noteworthy as well. Based on survey data from Coinbase and Morning Consult, Forbes also observed that 22% of respondents who hold Bitcoin identified as Democrats, 18% as Republicans, and 22% as Independents. As CoinGape has reported before, the interests of US voters have evolved greatly. Furthermore, 73 percent of participants in a Harris Poll survey said that next US presidents should be knowledgeable about cutting-edge technology like Bitcoin, crypto markets, and artificial intelligence. With a voter mindset fixated on digital asset know-how for politicians, keeping crypto voters on one’s side will be crucial in the 2024 elections.
