The Bitcoin President That Wasn't: What The Crypto Community Is Saying About Vivek Ramaswamy's Exit From 2024 Race
Portfolio Pulse from Mehab Qureshi
Vivek Ramaswamy, a pro-crypto entrepreneur, has ended his campaign for the Republican presidential nomination after a fourth-place finish in the Iowa caucuses. He plans to endorse Donald Trump and has been praised for his crypto-friendly policies, which include treating most cryptocurrencies as commodities and protecting digital wallets. Ryan Selkis and Charles Hoskinson have expressed support for Ramaswamy's stance on crypto regulation.
January 16, 2024 | 12:09 pm
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POSITIVE IMPACT
The endorsement of Ramaswamy's 'Crypto Bill of Rights' by Cardano founder Charles Hoskinson may have a neutral to slightly positive impact on Cardano's price in the short term.
While Hoskinson's support for Ramaswamy's crypto policies is a positive signal for Cardano, the direct impact on ADA's price is likely to be limited in the short term as the market focuses on broader regulatory developments and market trends.
CONFIDENCE 65
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Vivek Ramaswamy's withdrawal from the presidential race and endorsement of Trump may have a neutral impact on Bitcoin as the market has likely already priced in his pro-crypto stance.
Ramaswamy's exit from the race is unlikely to have a significant short-term impact on Bitcoin's price as his campaign was not a primary driver for crypto markets, and his policies may continue to be influential through his endorsement of Trump.
CONFIDENCE 70
IMPORTANCE 40
RELEVANCE 50