Joe Biden Gets Covid-19, Meme Coin BODEN Free Falls
2024-07-19
Bittime – The recent announcement that President Joe Biden tested positive for COVID-19 has rocked the political and crypto markets. In response, speculators on decentralized betting platform Polymarket drastically changed their predictions regarding Biden's political future.
Meme Coin Jeo Boden Falls, Kamala Horris Soars
Today, President Biden's odds of dropping out of the presidential race jumped to 69% on Polymarket. This major change accompanied the announcement of Biden's health condition, as well as a $17 million bet on this outcome.
"I tested positive for COVID-19 this afternoon, but I feel good and thank everyone for their prayers. I will go into isolation while I recover, and during this time, I will continue working to get the job done for the American people," Biden said via X (Twitter).
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The increased speculation reflects concerns over his ability to continue the campaign, especially after Biden stated that he would reconsider his candidacy if medically advised due to a serious condition.
The impact of President Biden's diagnosis extended to the crypto market, most notably affecting the Biden-themed meme coin, 'Jeo Boden' (BODEN). In the last 24 hours, BODEN's value plummeted by almost 25%. The decline reflects the broader uncertainty that now hangs over his re-election bid.
Jeo Boden (BODEN) Price Performance
Meanwhile, Vice President Kamala Harris saw a surge in betting odds, surpassing Biden on the Polymarket as the more likely Democratic candidate. In contrast, the Kamala Harris-themed meme coin, 'Kamala Horris' (KAMA), surged more than 101% following news of Biden's COVID-19 diagnosis.
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Market Response to the Harris Opportunity
The market's enthusiastic response to Harris' improving odds suggests growing confidence among investors that she may lead the Democratic ticket.
Additionally, this political and economic turmoil coincided with significant events affecting other key US political figures. Most notably, former President Donald Trump's chances of winning the next election rose to 64% after last Saturday's assassination attempt.
Chances of Winning the US Presidential Election
During the incident, a bullet grazed Trump's right ear, prompting an immediate response from Secret Service agents. Despite the ordeal, Trump's passionate gesture to his supporters—a fist pump—appeared to improve his image and electoral prospects.
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