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Streamer loses $700K in BTC betting on Harris win

Streamer loses $700K in BTC betting on Harris win

GrafaGrafa2024/11/07 07:37
coin_news.by:Isaac Francis

The recent U.S. presidential election concluded with Donald Trump becoming the 47th president after securing victories in swing states such as Pennsylvania, Georgia, and North Carolina.

His win fueled a surge in the cryptocurrency market, benefiting many in the sector.

Bitcoin (CRYPTO:BTC) reached a new all-time high of over $75,000, though it later slightly dipped to $74,000, based on CoinGecko data.

Dogecoin (CRYPTO:DOGE) also saw significant growth, hitting an eight-month high of nearly $0.21, while Trump-related meme coins experienced double-digit increases.

However, not everyone profited from the election’s outcome.

Canadian streamer Félix Lengyel, widely known as xQc, revealed that he placed a substantial bet of $700,000 worth of BTC on Kamala Harris winning the presidency.

“The odds were too good,” Lengyel stated, suggesting that he found the potential profit enticing.

If Harris had won, he stood to gain nearly $1 million in BTC.

The reaction to Lengyel's bet was met with scepticism from his followers on X (formerly Twitter).

Many deemed the bet unwise, considering Trump’s favorable odds leading up to the election.

One user even commented that xQc should have directed the money to charity rather than “burning it” on an improbable wager.

The outcome affected cryptocurrency trends differently.

Meme coins associated with Trump surged, while those linked to Harris plummeted.

Reports showed the crash of coins such as Kamala Horris (CRYPTO:KAMA), which fell by over 90%, and Kamabla (CRYPTO:KAMABLA), which also experienced severe losses.

At the time of reporting, the Bitcoin price was $75,666.37.

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