Elon Musk's support for Donald Trump is very evident in the 2024 election cycle, with multiple public endorsements and donations, boosting Trump's current election probability to 65.1%.
Musk's Multiple Public Supports for Trump
In July 2024, after Trump faced an assassination attempt, Musk immediately publicly supported Trump and became an outspoken supporter, stating, "The last candidate as tough as this in America was Theodore Roosevelt."
Image source: Internet
In September, during the general election candidate debates, Musk donated approximately $72 million to Trump's campaign through his Super Political Action Committee (PAC). This organization, named "America PAC," has been instrumental in voter mobilization efforts in key swing states, helping to rally support for Trump.
On October 5, Musk appeared with Trump at a rally in Butler, Pennsylvania, where he described the upcoming presidential election as a dire situation and claimed that Trump was the only candidate capable of "upholding American democracy." Two weeks later, Musk held his first solo event supporting Trump in Fairfax, Pennsylvania, encouraging suburban voters in Philadelphia to register and vote early.
At the same time, Musk used his social media platform X and his funds to promote Trump's election, promising to donate $1 million daily to voters who signed his PAC petition, a commitment that raised legal questions.
According to a CNN report on October 25, Musk injected nearly $44 million into a Super PAC aimed at restoring Trump to the White House in October, bringing his total donations to this organization close to $119 million. On the 25th, U.S. federal filings showed that Musk contributed another $56 million to help Donald Trump and other Republicans campaign, bringing his total donations to this organization over $132 million.
Yesterday (October 27), Musk spoke at a town hall meeting in Lancaster, Pennsylvania, again publicly supporting Trump, downplaying the January 6 attack on the U.S. Capitol, and encouraging supporters to vote early in presidential swing states.
Trump's Latest Election Probability is 65.1%
As of today (October 28), according to Polymarket data, Trump's latest election probability in this U.S. election is as high as 65.1%, far exceeding Harris's 34.8%.
Image source: Internet
Trump has repeatedly expressed support for cryptocurrencies during his campaign, accepting cryptocurrency donations and promising to make the U.S. the "global cryptocurrency capital." Additionally, Trump announced a cryptocurrency project called "World Freedom Finance" to attract donations and votes from the digital asset industry. He even spoke at a Bitcoin conference, emphasizing that he would ensure the future of cryptocurrencies and Bitcoin is made in America and support the self-custody rights of 50 million cryptocurrency holders nationwide.
Closely monitoring macro events, the U.S. government's policy stance directly affects the price fluctuations of the cryptocurrency market and investor confidence. As a global financial center, changes in U.S. policy not only impact the domestic market but also have significant effects on global investors.
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