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Whale trader bets big on U.S. election
Find out how much he’s placed on Trump winning and what he stands to gain
Daniel Akpobare
November 04, 2024
In partnership with
GM Explorer,
A $30M bet on Trump? Meet the investor betting big on the 2024 election—with no political agenda, just the thrill of a possible $80M win.
Here’s what we got for you today:
💰Whale trader bets big on 2024 election outcome!
🤑 Anonymous trader rakes in millions on meme coins!
🧱 Around The Block: Up 264%, is MicroStrategy on track to become the first $1 trillion crypto stock?
💰Whale Trader Bets Big on 2024 Election Outcome!
A French investor known only as "Theo" has wagered over $30 million on Donald Trump to win the 2024 U.S. presidential election through the crypto betting platform Polymarket.
What drives such a bold yet risky bet?
During a Zoom call with The Wall Street Journal, Theo said he has no political motivation for betting on Donald Trump.
And that his only intent is to make money!
According to Theo, his predictions stem from past elections, where he noticed polls underestimated Trump's chances of winning in 2016 and 2020.
With that insight, he’s concluded that Trump could win again in 2024.
Not only that, but he also made bets that Trump would win individual swing states such as Pennsylvania, Wisconsin, and Michigan, as well as the popular vote.
If Theo’s gamble pays off, he could rake in a cool $80 million.🤑
However, a loss would wipe out his entire $30 million, which he describes as most of his liquid assets.
It’s not been confirmed whether he’s using his funds for these bets, but we can't wait to see how this high-stakes wager plays out.
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🔎 Market Insight
In the past three cycles, Bitcoin went on a full bull mode into price discovery shortly after the election.
In the first two cycles it seems there was quite a bit of volatility leading up to the election similar to what may be happening for this election.
And during this time it’s quite interesting to witness the high emotions from the crypto world in regard to opinions on market direction and politics. But if history rhymes then Bitcoin is likely to go on a big run after this election regardless who wins the election.
What do you think of this new segment, do you feel we should do this often? Let us know below: |
🧱 Around The Block
Up 264%, is MicroStrategy on track to become the first $1 trillion crypto stock?
Ethereum is like ‘Amazon in the 1990s’ — 21Shares
Trump's odds fall 10% from highs on Polymarket, Kalshi, while 'whale' denies political agenda.
Wiz Khalifa’s Twitter allegedly hacked to promote scam coin.
Federal Reserve all set for rate cut, brushing off election uncertainties.
Tesla, AMD, and Nvidia show higher volatility than Bitcoin in October 2024.
Tether is not planning to build a blockchain, says CEO Paolo Ardoino.
That's all we've got for you today.
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.
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