eToro Market Analyst: Biden's announcement to withdraw from the presidential election is a "victory for crypto assets"

eToro market analyst Josh Gilbert called Biden's announcement to withdraw from the presidential election a "victory for crypto assets," and the increased likelihood of Trump's re-election represents a "huge boost for asset classes." He added, "The longer we see Trump leading in the election odds, the more crypto assets will price his victory. It is hard to imagine Kamala Harris or other Democratic candidates overturning Trump's lead in polls with only three months left before the general election, but many things can happen during this time, so nothing is impossible." Recently, Trump has made Bitcoin and cryptocurrencies a key part of his re-election campaign. On June 14th he announced that if elected president, he would end Biden administration’s “war on cryptocurrency.”