Robert Kennedy Jr., pro-Bitcoin presidential candidate, has reaffirmed his commitment to support BTC if elected.
He shared his belief that Bitcoin facilitates the restoration of individual liberty and national integrity. Furthermore, Kennedy Jr. revealed that he has invested most of his wealth in Bitcoin.
According to him, the asset enables the middle class to protect itself from inflation, which acts as a form of embezzlement in favor of the government.
He added:
I would like the federal government to acquire Bitcoin, and I will strive to match our gold reserves with Bitcoin by the end of my tenure.
This is a significant commitment given that the US government currently owns only 210,000 BTC, valued at approximately $14 billion.
By comparison, US gold reserves are estimated at $640 billion, which is almost half of all existing BTC at the current exchange rate.
Kennedy Jr. supports Bitcoin because he sees it as an “honest currency,” free from centralized control that promotes individual freedom. He believes that decentralization is critical to preserving democracy.
JUST IN: @RobertKennedyJr says he wants the federal government to buy #Bitcoin and eventually hold as much #Bitcoin as they do gold. 🙌pic.twitter.com/7gW5za95js
— Simply Bitcoin (@SimplyBitcoinTV) July 25, 2024
BitMEX co-founder Arthur Hayes has issued a cautious outlook for Bitcoin and the broader crypto market, predicting a possible short-term downturn as the U.S. government shifts its liquidity strategy.
Bitcoin’s bullish undercurrent continues to strengthen as on-chain data and derivatives market behavior reveal aggressive accumulation from long-term holders and whales.
As institutional adoption of Bitcoin accelerates, U.S. asset management giant Franklin Templeton has issued a cautionary note on the growing trend of crypto-based treasury strategies.
Bitcoin rose 1.78% over the past 24 hours to reach $109,500 at the time of writing, driven by surging institutional inflows into spot ETFs, easing global trade tensions, and strengthening technical momentum.