The overall cryptocurrency market looks bullish following the approval of the spot Ethereum Exchange Traded Fund (ETF) in the United States. Today, at the BTC 2024 conference in Nashville, independent presidential candidate Robert F. Kennedy Jr. reaffirmed his strong support for Bitcoin. He said,
“I am a huge supporter of Bitcoin. I have most of my wealth in Bitcoin,” Kennedy declared. “I am fully committed.”
RFK JR: "I am a huge supporter of Bitcoin. I have most of my wealth in Bitcoin. I am fully committed." pic.twitter.com/GrDB8nSirI
— Autism Capital (@AutismCapital) July 26, 2024
Bitcoin and its supporters
Bitcoin has become a major talking point in the current election cycle. Republican nominee Donald Trump’s campaign announced in May 2024, that it would accept cryptocurrency donations.
This move has also gained significant backing from the crypto community. Notably, Kraken co-founder Jesse Powell donated $1 million in crypto to Trump, and the Winklevoss Twins contributed to a Trump-aligned political action committee (PAC).
Kennedy, known for his libertarian views, criticized the Federal Reserve, claiming it serves bankers rather than the general public. During the panel hosted by TheStreet, he stated that “The relationship between Congress and the Fed is parasitical to our country. The Fed is not a public institution. The decision-makers are appointed by the banking industry.”
Besides this, Kennedy also argued that COVID-19 lockdowns disproportionately favored billionaires over small businesses. “Lockdowns shut down all the small businesses in this country, which we should be nurturing, and kept open the Walmarts, Amazons, Facebook, the oil industry, processed food industries, and Big Agriculture. They all flourished during that period,” he remarked.
Importance of Bitcoin shares by presidential candidate
Earlier this year, in Austin, Texas, Kennedy highlighted the importance of cryptocurrency for financial independence. “We need sovereignty over our own wallets, transactional freedom, and a currency that is transparent. We need to ensure America remains the hub of blockchain technology,” he said.
Kennedy’s remarks at both conferences highlight his belief in Bitcoin as a tool for economic freedom and his criticism of current financial systems. As Bitcoin continues to be a pivotal issue in the 2024 election, Kennedy’s stance sets him apart as a staunch advocate for the cryptocurrency.
This move by Kennedy gained massive attention and may impact the overall crypto market in the coming days. Apart from Kennedy’s recent statement, on July 25, 2024, Jersey City Mayor Steven Fulop shared his plans to invest part of the city’s pension fund in Bitcoin ETFs, similar to the Wisconsin Pension Fund’s 2% allocation, as reported by Todayq News.
As of now, the fund is updating its SEC paperwork to include Bitcoin ETFs. Fulop, a crypto supporter, believes in blockchain’s significance. Wisconsin’s pension fund recently reported $164 million in Bitcoin ETFs.
