U.S. Elections: The Leading Pro-Crypto Candidate Exits the Race
Robert F. Kennedy Jr., known for his unwavering support of cryptocurrencies, announced his withdrawal from the 2024 presidential race, leaving his supporters in suspense. This withdrawal is all the more surprising as it could be accompanied by support for Donald Trump, a decision that could shake up the political dynamics around cryptos.
Kennedy’s support for Trump: A beacon of hope for crypto enthusiasts?
Kennedy has never hidden his passion for cryptocurrencies and his desire to see them thrive under favorable regulation. His withdrawal could be seen as a blow to the crypto community, but his support for Donald Trump could well turn the situation around.
Indeed, although Donald Trump has not historically been a staunch supporter of cryptocurrencies, he recently made a notable turnaround by participating in the Bitcoin conference in Nashville, where he made favorable remarks about Bitcoin.
Moreover, Robert Kennedy Jr.’s support could encourage him to adopt an even more favorable stance on digital assets, thereby strengthening their position in the American political debate.
This potential alliance could rekindle hope among proponents of pro-crypto regulation, who see Trump as a leader capable of shifting the lines.
Kennedy, by aligning himself with Trump, could influence political debates and weigh in on decisions regarding cryptocurrencies. For many, this decision is strategic: it’s better to support a candidate with victory prospects and try to influence him rather than remain isolated.
An immediate repercussion on Bitcoin
The news of Kennedy’s withdrawal coincided with a rise in Bitcoin’s price, which exceeded $61,000.
This 3% increase in 24 hours could be linked to the prospect of Trump being supported by Kennedy.
Investors, seeing an opportunity in this new political alignment, may have bolstered their confidence in the future of cryptocurrencies in the United States.
Kennedy’s support for Trump could signal a turning point for crypto regulation, prompting market players to anticipate more favorable policies under a re-elected Trump administration. This dynamic reveals that, despite political uncertainties, Bitcoin maintains the solid confidence of investors, thereby consolidating its dominance in the market.
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Fasciné par le bitcoin depuis 2017, Evariste n'a cessé de se documenter sur le sujet. Si son premier intérêt s'est porté sur le trading, il essaie désormais activement d’appréhender toutes les avancées centrées sur les cryptomonnaies. En tant que rédacteur, il aspire à fournir en permanence un travail de haute qualité qui reflète l'état du secteur dans son ensemble.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.