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Polymarket prediction data shows Trump taking the lead over Harris

  • Polymarket shows Trump leading the race; however, other betting trackers show Harris still in the lead
  • The Republicans have seen 102,000 new registered voters compared to the Democrats’ 96,000
  • Elon Musk endorsed Trump during a Pennsylvania rally over the weekend

The odds of former US President Donald Trump winning the election against Vice President Kamala Harris rose to 51% on Polymarket, the decentralized prediction market platform.

According to the platform, Harris is behind on 48.3% at the time of publishing. However, on the Election Betting Odds tracker, Harris remains in the lead, only by a small margin, at 50.1% compared to Trump’s 49.2%.

On Polymarket, the shift in first place follows as Trump received a boost in Pennsylvania, considered one of the important swing states during the election, after seeing new voting registrations. In a report from Newsweek, Republicans saw 102,000 new voters registered in the state compared to the Democrats 96,000.

Billionaire Elon Musk has also endorsed Trump following his appearance at the former US president’s rally in the state. Taking to X, Musk wrote: “Trump now leading Kamala by 3% in betting markets. More accurate than polls, as actual money is on the line.”

Backing Trump

On Saturday, the CEO of SpaceX and Tesla took to the stage in Butler, Pennsylvania in his first appearance alongside Trump, which also happened to be where the assassination attempt on Trump took place in July.

Wearing a cap with the “Make America Great Again” slogan of Trump’s campaign, Musk called the presidential nominee the only candidate “to preserve democracy in America.” As the final weeks count down to election day, this first appearance by Musk highlights the growing alliance between the two.

The topic of crypto has played an important role during the presidential election discussions. In September, Harris unveiled her first crypto-positive remarks during a New York fundraiser. If elected, Harris promised she would help grow investment in artificial intelligence and crypto in America.

Likewise, Trump has also been increasingly vocal in supporting crypto.

Trump – who said he wants to make America the “crypto capital of the planet” – became the first US president to use the Bitcoin network. He achieved this after sending a Bitcoin transaction at PubKey, a crypto-themed bar in New York ahead of his campaign rally in Long Island.

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Japan’s Metaplanet buys $7M Bitcoin, now holds to $40.5M BTC

  • Metaplanet boosts Bitcoin holdings to 639.5 BTC as of Oct. 7.
  • The company’s stock price has surged 11%, with a 544% year-to-date gain since May 2024.
  • It has so far acquired an additional $1.4M in BTC via options trading, recognizing 23.97 BTC as revenue.

Japan-based investment firm Metaplanet on October 7 announced that it has made yet another significant acquisition of Bitcoin, boosting its holdings to a total of 639.5 BTC, valued at approximately $40.5 million.

The company, which has garnered the nickname “Asia’s MicroStrategy” for its aggressive Bitcoin purchasing strategy, acquisition of an additional 108.78 BTC, worth roughly $7 million at the current Bitcoin price of $63,600.

Metaplanet’s Bitcoin strategy has been nothing short of bold. Since May 2024, when it first adopted Bitcoin as its strategic treasury reserve asset, the firm has made regular purchases to strengthen its cryptocurrency portfolio.

In total, Metaplanet has invested 6 billion Japanese yen into Bitcoin over the past few months. Its consistent buying behaviour has drawn comparisons to MicroStrategy, the American company known for its own large-scale Bitcoin acquisitions.

This most recent purchase has led to a surge in Metaplanet’s stock price, which climbed more than 11% on October 7, reaching an intraday high of 1,047 Japanese yen (approximately $7). The company’s stock has more than tripled in value since the start of the year, with a 544% year-to-date gain, although it is still trading at a 66% discount from its all-time high in May 2024.

In addition to direct Bitcoin purchases, Metaplanet has employed options strategies to increase its reserves. Last week, the company acquired Bitcoin worth $1.4 million through options trading, selling put options with a strike price of $62,000. These options, set to expire on December 27, 2024, generated a premium of 23.97 BTC, which the company recognized as revenue.

Market analysts remain optimistic about Bitcoin’s trajectory, with predictions suggesting it could rise to $77,700 by the end of October. As Bitcoin continues its upward momentum, Metaplanet’s ongoing acquisition strategy could further solidify its position as a leading player in the cryptocurrency space.

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