Crypto users bet that Biden will withdraw from the campaign after disastrous debate

By Hannah Perez

Predictions that Biden will drop out of the 2024 US presidential race soared after the disastrous debate against Trump on Thursday. Blockchain bets reveal users’ skepticism about the Democratic candidate.

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Biden and Trump faced off on Thursday in a debate that turned out to be disastrous for the Democrat
The current US president lost his train of thought, rambled and said nonsensical things during the night
Cryptocurrency users were skeptical that Biden would be a candidate
37% think Biden will drop out of the presidential race and more than 60% think Trump will win

Cryptocurrency users are increasing their bets on the possibility of Democrat Joe Biden withdrawing from the presidential campaign after the disastrous debate against Donald Trump.

Thursday, CNN broadcast the 2024 presidential debate between the current president of the United States and his Republican rival, former President Trump. Before the debate, many Americans seemed concerned about the ability of the 81-year-old Biden to assume a second term and the meeting did nothing to allay those concerns, quite the opposite.

During the 90-minute debate, the current US leader rambled and stumbled frequently, mispronounced words, lost his train of thought and mumbled unintelligible comments, raising questions about his cognitive prowess.I don’t really know what he said at the end of that sentence. I don’t think he knows what he said either.”Trump said at one point in the night, after an incomprehensible response from Biden, which could well sum up the night.

The Biden campaign said the president had a cold, in an attempt to explain his hoarse voice, as reported BBC. But still, the excuse didn’t seem to stick. Even at the end of the night, lBiden’s former communications director, Kate Bedingfield, acknowledged that it had not been a good debate for the Democrat and that he had failed to demonstrate that he had the energy and resilience for the job.

The bettors of Blockchain were skeptical about the current president’s performance, which increased the chances that this abandon the upcoming presidential election, as well as the chances of Trump being elected.

Users do not believe that Biden will reach November

In the prediction market powered by Polygon, Polymarketthe odds of Biden dropping out of the race increased by more than 60% since 19% to 37%, —and at one point they even exceeded 40%. That bet has now attracted more than $7 million in cryptocurrency from users as the response for the “yes” it reaches its highest point.

Bet on Polymarket on the question “Will Biden withdraw from the presidential race?”

A second bet on that same platform also gives signs of the widespread skepticism around Biden, with less than 70% chance he will be the Democratic nominee, with California Governor Gavin Newsom at a high of 17% and Michelle Obama at as high as 7%.

Meanwhile, Trump’s chances of winning of the November presidential elections also rose in a separate bet of Polymarket. In particular, 64% predict that the Republican tycoon will win, while 20% bet on Biden’s victory. That bet has more than $190 million at stake.

Last night’s debate between the current president and the former president touched on topics of interest such as abortion, immigration, foreign policy, inflation and more. However, cryptocurrencies were not among the topics despite the recent interest that both candidates have had on the issue, especially for the Republican campaign.

Trump began accepting donations in digital currencies and has made numerous promises on the topic, including ensuring US innovation and leadership in the world in crypto and Blockchain. An earlier report suggested Biden was also looking to accept Bitcoin as a donation method for your campaign.

Article by Hannah Estefanía Pérez / Bitcoin Diary

Picture of Unsplash

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