This viral streamer lost $700,000 worth of BTC betting on Kamala Harris to win

TL;DR

The popular Canadian online streamer lost a profit of almost $1 million in BTC after betting on Harris to become president. Trump’s victory fueled a crypto rally, with bitcoin hitting a new peak of more than $75,000. Bet on the wrong horse?

The US presidential election is undoubtedly one of the hottest topics this year. The latest results show that the country’s 47th president will be Republican Donald Trump, who won vital victories in swing states such as Pennsylvania, Georgia and North Carolina.

His victory sparked a massive resurgence in the cryptocurrency market. It was therefore applauded by numerous advocates of the asset class and investors.

However, it is not beneficial for everyone. Popular Canadian online streamer Félix Lengyel, better known as xQc, revealed that he bet $700,000 in Bitcoin (BTC) on Harris. A victory for the Democratic candidate would have resulted in a massive gain of almost $1 million in the main cryptocurrency.

THAT BEST HIT LMFAO THE ODDS WERE VERY GOOD I HAD TO DO IT. DON’T HAVE IT
PS: DON’T GET DOWN, I CAN’T EVEN VOTE I’M CANADIAN pic.twitter.com/X2tECDEU8M

— xQc (@xQc) November 4, 2024

Most X users who commented on the post described the bet as unreasonable, given Trump’s better odds of emerging victorious. One person went even further, arguing that xQc should have donated the funds to charity instead of “burning” it by placing it on Harris.

The market reaction

As mentioned earlier, several leading cryptocurrencies headed north immediately following reports that Trump’s election victory was only a matter of time.

Bitcoin (BTC) soared to a new ATH of over $75,000 before pulling back slightly to its current $74,000 (according to CoinGecko data). Dogecoin (DOGE) hit an eight-month high of nearly $0.21, while numerous Trump-related meme coins soared by double digits.

On the contrary, memes related to the Democratic candidate witnessed crucial losses. As CryptoPotato reported, Kamala Horris (KAMA) crashed more than 90% daily, while Kamabla (KAMABLA) experienced a similar collapse.

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