The cryptocurrency industry's influence on the political stage is gradually showing in the upcoming 2024 US election. According to the latest data, nearly half of corporate political donations in this election cycle came from cryptocurrency companies. This trend not only revealed the growing cryptocurrency industry, but also sparked widespread discussions about how it affects the US political ecology and election results. Meanwhile, as the election date approaches, the price trend of cryptocurrencies such as Bitcoin has also become the focus of market attention.

According to a report by the US non-profit monitoring organization Public Citizen, during the 2024 US election, the total amount of corporate political contributions reached 0.248 billion US dollars, of which about 48% came from cryptocurrency companies such as Ripple and Coinbase. This means that the cryptocurrency industry's political influence is increasing and is a force to be reckoned with.

The vast majority of these donations went to the pro-cryptocurrency Super Political Action Committee (PAC), a non-partisan super-political action committee called Fairshake, an organization dedicated to getting crypto-friendly candidates from both parties elected and cracking down on candidates who are skeptical about cryptocurrencies. According to reports, of the $0.203 billion raised by Fairshake PAC, more than $0.107 billion came from cryptocurrency companies. The inflow of these funds not only helped crypto-friendly candidates get votes, but also affected the overall course of the US election.

Currently, the cryptocurrency industry's PAC has once again raised $0.183 billion to influence the 2024 election. The existence of these organizations allows cryptocurrency companies to more effectively speak out in the political arena and promote policies and regulations beneficial to the industry. As the cryptocurrency industry continues to expand, so does its potential influence in elections. According to statistics, the industry's favored candidate won 36 times in 42 primaries influenced by the crypto-backed Super Political Action Committee, which shows the importance of the power of money in elections.

The rise of cryptocurrencies is not only a change in the financial sector; it also fundamentally challenges traditional political structures. Ideas such as decentralization, transparency, and financial inclusion promoted by cryptocurrencies are influencing more and more voters. As more than 50 million people in the US own digital assets, political candidates are increasingly aware of the importance of attracting this group of voters and must pay attention to the needs and demands of this group.

Political elections are often driven by economic self-interest. As voters consider the candidate's impact on their financial interests when voting, cryptocurrency supporters are likely to be a key group in the election. If candidates can effectively meet the needs of this group, their chances of winning the election will increase significantly.

Against this backdrop, political candidates, and Trump in particular, have begun to value cryptocurrency support. He said on several occasions that he would support the development of the cryptocurrency industry and promised to make the US a “global cryptocurrency capital.” This shift in attitude reflects the growing influence of the cryptocurrency industry in politics.

In contrast, Democratic candidates are relatively cautious about cryptocurrencies. The current government's regulations on cryptocurrencies are relatively strict, causing many voters to be disappointed with the current policy. However, as the election approaches, discussions within the Democratic Party have begun on how to adjust policies on cryptocurrencies to cater to the needs of younger voters.

Furthermore, it is worth mentioning that as the 2024 US election approaches, the price trend of cryptocurrencies such as Bitcoin has also become the focus of market attention. Many analysts believe that in the context of the cryptocurrency industry receiving more political support, the price of Bitcoin will experience a round of increases on the eve of the election.

Demand for Bitcoin is expected to increase further due to increased market attention to cryptocurrencies and the participation of more institutional investors. Investors' optimistic expectations for Bitcoin may also be reflected in its price, driving it towards a higher price point. According to market expectations, the price of Bitcoin could reach around $80,000 before the election.

On-chain and technical signals suggest that Bitcoin may hit a new high before the US presidential election in November. Bitcoin showed a strong upward trend after bottoming out in 2012, 2016, and the third quarter of 2020, which usually causes the price to rise before and after the US presidential election. Given this historical precedent, there is growing expectation that Bitcoin may resume its upward trend and reach new highs as the November 2024 election approaches.

Despite the market's optimism about Bitcoin's future, investors should remain wary. The cryptocurrency market has always been highly volatile, and factors such as policy changes and market sentiment may cause sharp price fluctuations. Therefore, investors should comprehensively consider various factors and invest carefully when making decisions.

In summary, while the president-elect is still unknown, it is certain that crypto voters will play an integral role in the victory of the winning candidate. Furthermore, the cryptocurrency industry showed strong political influence in the 2024 US election, which may eventually push cryptocurrencies into the mainstream.