The cryptocurrency market is looking positive after the approval of the spot Ethereum ETF in the U.S.
At the BTC 2024 conference in Nashville today, independent presidential candidate Robert F. Kennedy Jr. reinforced his strong support for Bitcoin. He stated, “I am a huge supporter of Bitcoin. I have most of my wealth in Bitcoin. I am fully committed.”
Robert F. Kennedy Jr. reinforced his strong support for Bitcoin. Source: X
Bitcoin and Politics: Key Developments in the Election Cycle
Bitcoin has become a major topic in the current election cycle. In May 2024, Republican nominee Donald Trump’s campaign announced it would accept cryptocurrency donations. This move has received strong support from the crypto community, including a $1 million donation from Kraken co-founder Jesse Powell and contributions from the Winklevoss Twins to a Trump-aligned political action committee (PAC).
Independent presidential candidate Robert F. Kennedy Jr., known for his libertarian views, has been critical of the Federal Reserve, arguing that it serves bankers rather than the general public. During a panel hosted by TheStreet, he criticized the relationship between Congress and the Fed, saying, “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.”
Kennedy also took aim at COVID-19 lockdowns, claiming they disproportionately benefited billionaires over small businesses. He noted, “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.”
Kennedy’s Advocacy for Cryptocurrency and Recent Developments
Earlier this year in Austin, Texas, Robert F. Kennedy Jr. emphasized the importance of cryptocurrency for financial independence. He stated, “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.” His remarks underscore his belief in Bitcoin as a tool for economic freedom and highlight his criticism of existing financial systems.
Kennedy’s strong stance on Bitcoin has attracted significant attention and could influence the crypto market in the coming days. His position sets him apart as a dedicated advocate for cryptocurrency in the 2024 election.
In addition to Kennedy’s comments, Jersey City Mayor Steven Fulop announced on July 25, 2024, plans to invest part of the city’s pension fund in Bitcoin ETFs, following a similar move by the Wisconsin Pension Fund, which allocated 2% of its assets to Bitcoin ETFs.
The fund is currently updating its SEC paperwork to include these ETFs. Fulop, a proponent of crypto, sees significant value in blockchain technology. Wisconsin’s pension fund recently reported holding $164 million in Bitcoin ETFs.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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