- Donald Trump and Joe Biden faced off in a presidential debate on Thursday.
- The majority of viewers sided with Trump in a post-debate poll.
- Crypto was a no-show in the debate, spotlighting the gap between hype and reality.
Presidential hopeful Donald Trump has positioned cryptocurrency as a key aspect of his election campaign. He promises to cultivate a thriving U.S. crypto landscape, including support for domestic miners. This stance has garnered attention from the crypto community, raising expectations for more detailed policy discussions on the subject.
The CNN-hosted presidential debate on June 27 was a prime opportunity for Trump and Biden to clarify their positions on cryptocurrency. Many crypto advocates expected the topic to feature prominently, given its growing economic and technological significance. However, contrary to these expectations, neither candidate mentioned crypto during the debate.
Crypto Missing from Debate
The cryptocurrency landscape has become increasingly politicized in recent weeks. This includes the House of Representatives passage of FIT21, which overturned an SEC rule preventing banks from custodying crypto. With heightened political attention, many believed Thursday’s presidential debate would inevitably address cryptocurrency issues.
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Despite these expectations, the topic was notably absent from the discussion, leaving many in the crypto community surprised and disappointed.
The anticipation for crypto-related discourse was evident in the lead-up to the debate. MicroStrategy chair Michael Saylor conducted a poll on social media, asking whether Bitcoin would be mentioned during the event. The results were telling, with nearly 70% of the more than 20,000 respondents expecting cryptocurrency to feature in the debate.
However, an unnamed Bitfinex analyst had predicted that cryptocurrency was unlikely to be a debate topic, arguing that such specific policy issues are typically addressed in detailed policy announcements rather than live debates.
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Despite the absence of crypto discussion, the debate’s outcome was clear: a CNN poll showed that a majority of viewers believed Trump had won, with only 33% favoring Biden, who struggled to make coherent sentences throughout the event.
Media Fret Over Biden
The aftermath of the debate saw widespread criticism of Biden’s performance, particularly from CNN pundits. One commentator went so far as to describe “a deep, a wide, and a very aggressive panic in the Democrat Party” following the event.
This sentiment was echoed by political strategist Frank Luntz, who revealed on CNBC’s Squawk Box that he had been contacted by numerous Democratic senators and governors seeking guidance on the implications for their party and Biden’s candidacy.
On the Flipside
- Biden’s age and questions about his suitability for office have been persistent issues for him since the beginning of his presidency.
- Vivek Ramaswamy predicted before the debate that Democrats will swap out Biden for a new nominee as the election approaches.
Why This Matters
The absence of crypto discussion in the debate underscores the disconnect between the crypto community’s expectations and mainstream political discourse. This gap suggests that despite its growing importance in finance and technology, crypto has yet to become a pivotal issue for Americans as a whole.
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