Pro-Bitcoin candidate RFK Jr. backs Trump to defeat Harris?

Independent presidential candidate Robert F. Kennedy Jr. (RFK) has announced a major speech for this Friday. There are growing indications that the Bitcoin advocate will withdraw his candidacy in order to support the Bitcoin-friendly Donald Trump. The Bitcoin price has reacted positively to this news.

Yesterday, RFK Jr. shared on the 𝕏 platform that he will be giving a big speech this Friday at 8pm German time.

The evidence is overwhelming that RFK Jr. will announce that he is withdrawing his candidacy and supporting Republican Donald Trump. People who are said to be privy to Kennedy's plans confirmed this to the news channel CNN.

The rumors were fueled by a podcast appearance by his running mate on Tuesday. Nicole Shanahan said the campaign was considering teaming up with Trump to avoid the risk of Harris winning the election.

The probability of Kennedy's victory was only a low percentage across the board. Nevertheless, the 70-year-old has a following that should not be underestimated, which means that his support for another candidate could be decisive in the election.

As RFK Jr. has increasingly spoken out against Democratic policies in recent days, it seems likely that he will now side with the Republicans.

Donald Trump himself has already spoken positively about Kennedy lately. Speaking to CNN, the Republican emphasized that he would be open to giving RFK Jr. a position in his administration.

I like him, and I respect him. He’s a brilliant guy. He’s a very smart guy. I’ve known him for a very long time. I didn’t know he was thinking about getting out, but if he is thinking about getting out, certainly I’d be open to it.
_{Trump on RFK Jr.}

One big thing the two presidential candidates have in common is that they are in favor of Bitcoin. Both RFK Jr. and Trump spoke at the Bitcoin Conference in Nashville and announced that the US would hold a Bitcoin reserve under their leadership. RFK Jr, who claims to hold the majority of his assets in Bitcoin, even promised active purchases of 550 BTC per day - Blocktrainer.de reported.

For the asset class, the coming together of the two Bitcoin-friendly politicians would presumably have a positive effect. The Bitcoin price rose by around 4% over the course of the day when RFK Jr. announced the speech for Friday and rumors increased that he would now support Trump.

On the one hand, it can be assumed that Donald Trump's support will make it easier for him to be elected to the White House in November and then establish the promised Bitcoin reserve. Furthermore, RFK Jr. holding a high position under Trump could also contribute to the US relying even more heavily on Bitcoin than it probably would anyway with Trump as president.

According to the betting markets, Donald Trump is once again ahead of Kamala Harris. This is apparently due, among other things, to her economic plans, which were hardly viewed positively by the influential financial industry and Wall Street. Meanwhile, the Democrats are also failing to win over the increasingly relevant crypto community - Blocktrainer.de reported.

It remains to be seen whether Kennedy will actually announce his support for Trump tomorrow and whether it will help the Republican to win the election in November. Only time will tell whether Donald Trump as president will really have a positive impact on Bitcoin - assuming he wins the election.

At the moment, it certainly looks as though Donald Trump will be awarding posts to several Bitcoin supporters: according to financial information, his running mate J. D. Vance holds Bitcoin himself and Trump is probably also toying with the idea of bringing Elon Musk, who has also invested in Bitcoin with Tesla and SpaceX, into the cabinet. Musk has also already declared his willingness to look after the efficiency of the state.