Former Vice President Joe Biden Joe BidenCast of 'Parks and Rec' reunite for virtual town hall to address Wisconsin voters Biden says Trump should step down over coronavirus response Biden tells CNN town hall that he has benefited from white privilege MORE acknowledged Sen. Bernie Sanders Bernie SandersMcConnell accuses Democrats of sowing division by 'downplaying progress' on election security The Hill's Campaign Report: Arizona shifts towards Biden | Biden prepares for drive-in town hall | New Biden ad targets Latino voters Why Democrats must confront extreme left wing incitement to violence MORE's (I-Vt.) exit from the Democratic primary on Wednesday, crediting his former rival with starting a movement.

"He hasn’t just run a political campaign; he’s created a movement," Biden said in a statement shortly after Sanders announced to supporters his decision to suspend his campaign.

"And make no mistake about it, I believe it’s a movement that is as powerful today as it was yesterday," Biden continued. "That’s a good thing for our nation and our future."

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Biden added that Sanders and his supporters changed the dialogue in the U.S. on a number of progressive issues like income inequality, universal health care, climate change and free college tuition.

Sanders's decision to suspend his campaign essentially makes Biden the presumptive Democratic presidential nominee. The former vice president already had a nearly insurmountable delegate lead over Sanders.

However, Biden would not have been able to reach the 1,991 delegates needed to become the nominee until at least June after a number of states delayed their primaries due to the coronavirus pandemic.

Sanders said in his address to supporters that he would stay on the ballot in the remaining states so that he can keep winning delegates in an effort to inflict "significant influence" on the party's platform at the Democratic National Convention this summer.

The progressive senator added that he would also work with Biden to defeat President Trump Donald John TrumpHR McMaster says president's policy to withdraw troops from Afghanistan is 'unwise' Cast of 'Parks and Rec' reunite for virtual town hall to address Wisconsin voters Biden says Trump should step down over coronavirus response MORE in the general election.

"I congratulate Joe Biden, a very decent man, who I will work with to move our progressive ideas forward," Sanders said.