This Week in Crypto Twitter Druckenmiller Bets on Bidens Misfortune

CoinWorld reports:
Mitchell Preffer Decodes Illustrations
Despite widespread skepticism among cryptocurrency users towards Joe Biden’s cryptocurrency agenda, this week’s legitimacy crisis for Deegan is two-fold — surprisingly, Deegan’s primary concern initially appeared to be profiting in some manner from the news.
On the cryptocurrency prediction market Polymarket, users have already wagered $326 million on questions related to the outcome of the 2024 presidential election and whether Biden will withdraw due to newly surfaced concerns about his age and mental health.
This week, as political pundits and media figures debated fiercely over whether Biden would withdraw from the 2024 presidential election, Polymarket emerged as one of the first decisive venues to address the issue. On Wednesday, Vice President Kamala Harris officially became the website’s most popular Democratic presidential candidate.
Cryptocurrency users quickly interpreted this development as incontrovertible evidence of Biden’s faltering campaign.
As of Friday, Biden has reclaimed the top spot in aggregated market rankings, as market fluctuations reflect ongoing political uncertainty in the United States. However, his overall prospects remain dim, causing continued anguish among other Deegan supporters. Namely: BODEN tokens.
The Solana meme coin is based on a distorted portrayal of the incumbent president, almost certainly not intended to earnestly support Biden or his campaign efforts. Indeed, negative reports related to Biden — including last month’s conviction of his son Hunter — had previously driven this momentum.
Recently, however, BODEN’s fate appears linked to whether Biden will continue to participate in the 2024 election. On Wednesday, as presidential candidacy eligibility entered a new crisis stage, BODEN plummeted over 38% within 24 hours.
Token holders — whether willing or not — this week found themselves supporters of a politician they once enjoyed mocking. Some BODEN holders seek a glimmer of hope, predicting unprecedented highs if Biden finds a path forward in the coming weeks.
Similarly, Kamala Harris-themed Solana meme tokens surged nearly 400% this week, overnight turning another group of cryptocurrency traders into amateur political pundits.