Pro-crypto candidate Robert F. Kennedy Jr. is dropping out of the 2024 presidential race, surprising investors by considering an endorsement of Donald Trump.

Kennedy, a staunch cryptocurrency advocate, could sway Trump, who has recently shown interest in Bitcoin. The endorsement could boost pro-crypto regulation under a Trump administration.

Following the announcement, the price of Bitcoin surged 3% to $61,000, a sign that investors see the new political alignment as a potential future for crypto in the United States.