Bitcoin’s price rattled Sunday as President Joe Biden announced he is quitting the 2024 race for the White House.
As the news broke, BTC dropped from $67,453 to $65,884 in an instant before recovering to $66,893 at time of publishing.
Bitcoin has rallied in recent weeks after Former President Trump declared his support for the crypto industry, stating he wants BTC to be “made in America.”
Now, President Biden says he’s endorsing Vice President Kamala Harris as the candidate to take on Trump – someone who appears to have never made a public comment on Bitcoin or crypto.
“My fellow Democrats, I have decided not to accept the nomination and to focus all my energies on my duties as President for the remainder of my term.
My very first decision as the party nominee in 2020 was to pick Kamala Harris as my Vice President. And it’s been the best decision I’ve made. Today I want to offer my full support and endorsement for Kamala to be the nominee of our party this year. Democrats — it’s time to come together and beat Trump. Let’s do this.”
Biden dropped out amid widespread concern about his apparent mental decline after a disastrous debate performance a few weeks ago.
A total of 37 Democrats in Congress publicly pressured Biden to drop out in advance of today’s news.
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