On Thursday means yesterday, former President Donald Trump and current President Joe Biden met for their first debate of the 2024 election cycle. The 90-minute event took place in Atlanta, Georgia, and was broadcast by CNN. The debate touched on various subjects but did not discuss cryptocurrency or Bitcoin.
Many viewers were surprised by the absence of any mention of cryptocurrency, especially since it has become such a hot topic recently. Both candidates focused on issues like the economy, healthcare, and foreign policy, but left the growing world of digital currencies out of the conversation. This omission left some wondering about their positions on the future of Bitcoin and other cryptocurrencies.
The debate began with a focus on the economy, a key issue for many American voters. Both candidates presented their strategies to tackle inflation, address the rising cost of living, and manage the national debt. Biden supported his administration's economic policies, while Trump criticized the present situation of affairs and promised to bring back what he called the prosperity of his previous term.
Even though the debate focused on the economy, neither candidate mentioned the growing cryptocurrency industry or its potential impact on finance. This was surprising, considering how important digital assets have become in economic and political conversations.
Apart from the economy, the debate addressed several other important subjects:
Abortion Rights - The candidates presented their different views on reproductive rights, reflecting the deep divide in the country on this issue.
Biden confirmed his support for Roe v. Wade and promised to make abortion rights part of federal law if he wins again.
Trump took credit for appointing Supreme Court justices who overturned Roe v. Wade but didn't clarify his position on a nationwide abortion ban.
Immigration - Trump and Biden each described their plans for border security and immigration reform, with Trump stressing his strict policies and Biden advocating for a more moderate approach.
Trump repeated his plans for tighter border control, including finishing the border wall and enforcing stricter deportation rules.
Biden defended his administration's approach, highlighting a balance between border security and humane treatment of migrants, and criticized Trump's past policies as cruel.
Foreign Policy - Discussions covered America's role globally, focusing on current conflicts and international relationships.
Ukraine-Russia Conflict: Biden stood by his support for Ukraine, while Trump claimed he could quickly end the war if elected.
China Relations: Both candidates portrayed themselves as tough on China, with Trump focusing on trade and Biden on strategic competition.
Middle East: They discussed their differing strategies regarding Iran and the Israel-Palestine conflict.
Climate Change
Biden highlighted his administration's investments in clean energy and commitments to reducing carbon emissions.
Trump criticized Biden's climate policies as damaging to the economy and energy independence.
Gun Control
Biden called for stricter gun laws, including universal background checks and an assault weapons ban.
Trump highlighted Second Amendment rights and argued that mental health issues, not guns, are the primary problem.
Healthcare
Biden defended and promised to expand the Affordable Care Act.
Trump criticized "Obamacare" and promised a new healthcare plan, though details were limited.
Mental Fitness - With Biden at 81 and Trump at 78, their mental capabilities were briefly questioned, given that they are the oldest candidates to ever run for president.
Both Biden and Trump defended their mental sharpness and physical fitness for office. They exchanged criticisms about each other's verbal missteps and decision-making abilities.
The complete lack of talk about cryptocurrency or blockchain technology during the debate was surprising, especially since the industry is becoming more important in politics. Several crypto-backed political action groups have raised a lot of money for the 2024 election cycle, aiming to influence policy and support candidates who favor crypto.
For example, Fairshake PAC has raised an impressive $177.8 million and spent $70.8 million so far in this election cycle. Two other related PACs, Protect Progress and Defend American Jobs, have together raised $25 million and spent $22.8 million. These numbers show the crypto industry's growing role in political funding and its interest in shaping policy.
While they didn't talk about crypto in the debate, both candidates have shared their thoughts on it before:
Trump has promised to stop what he calls Biden's "war on crypto" if he wins. He recently met with Bitcoin miners and said he wants cryptocurrency to be "made in America."
Biden's administration is seen as being tougher on crypto rules, but some in the industry think he might be warming up to the technology.
The lack of crypto talk in the debate might show that, according to recent Gallup polls, cryptocurrency isn't a big concern for most American voters. Issues like the economy, inflation, governance, and immigration are still the main worries for voters.
During the debate, Biden seemed a bit quiet, speaking softly and reportedly dealing with a cold. On the other hand, Trump was more lively and outspoken, though fact-checkers pointed out many mistakes in his statements.
The debate's impact was quickly seen in prediction markets. On Polymarket, a crypto-based prediction platform, Trump's chances of winning the November election went up during the debate, reaching as high as 68%, while Biden's chances were at 29%.
This debate was the first of two planned meetings between Trump and Biden. The next debate is set for September 10, giving both candidates another chance to possibly talk about crypto-related topics.
The 2024 election, happening on November 5, will decide the presidency as well as all 435 House seats and 34 of the 100 Senate seats. As the campaign moves forward, it is uncertain if cryptocurrency and blockchain technology will become more important in political talks.
For now, people in the crypto industry and their supporters may have to look outside presidential debates to have their opinions heard. With strong financial support and growing public interest, the push for crypto-friendly policies is likely to continue in other ways, even if it wasn't mentioned in the debate this time.
As the election gets closer, voters interested in crypto policies may need to go beyond debate performances and look into each candidate's stated positions and past actions to make informed decisions at the polls.
Also read - Top 5 Best Tokens to Buy Now for Good Returns in 2024
