2024

Donald Trump

Bitcoin

<ul>
 <li aria-level="1">Nicole Shanahan reveals Democratic concerns over a potential RFK Jr. and Trump alliance in the 2024 elections.</li>
 <li aria-level="1">RFK Jr.’s campaign weighs options: push for third-party establishment or potentially endorse Donald Trump to influence policies.</li>
</ul>
Shanahan reported that discussions within Democratic circles reflect fear of an alignment between Kennedy and Trump. 
Her comments criticize the Democratic Party’s approach, particularly highlighting a common rebuttal she encounters: “But Trump is worse.” This, she suggests, points to a larger issue of inconsistency within the party.
Currently, Kennedy’s campaign, which actively supports Bitcoin, is considering two strategic options. The first is to pursue enough votes to support the establishment of a third party. The alternative is to withdraw from the race and endorse <a href="https://www.ethnews.com/trump-endorses-bitcoin-is-this-the-end-of-traditional-banking/" rel="noopener noreferrer nofollow">Donald Trump</a>.
<figure id="attachment_88533" aria-describedby="caption-attachment-88533" style="width: 100%" class="wp-caption aligncenter"><img fetchpriority="high" decoding="async" class="wp-image-88533 size-full" title="rfk-jr-considers-backing-trump-a-mega-move-for-bitcoins-future" src="https://www.ethnews.com/wp-content/uploads/2024/08/image.png" alt="RFK Jr. Wants the U.S. Treasury to Buy $4M Worth of Bitcoin" width="1050" height="700">
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 RFK Jr. Wants the U.S. Treasury to Buy $4M Worth of Bitcoin – Source: CBS
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In a recent statement at the Bitcoin 2024 conference held in Nashville, Tennessee, Robert F. Kennedy Jr. unveiled an ambitious plan concerning the U.S. Treasury and Bitcoin. Kennedy, speaking as part of his campaign trail, proposed that, should he win the presidential election, he would direct the U.S.&nbsp;
Treasury to consistently buy 550 Bitcoin every day. The goal, he explained, would be to build up a substantial reserve of at least 4 million Bitcoins.
This proposal might sound extreme to some, but Kennedy believes that such a move could significantly influence Bitcoin’s market value, potentially elevating it to “hundreds of trillions of dollars.” His idea hinges on the economic principles of supply and demand, akin to market dynamics that affect stock prices.
<figure id="attachment_88537" aria-describedby="caption-attachment-88537" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-88537 size-full" title="rfk-jr-considers-backing-trump-a-mega-move-for-bitcoins-future" src="https://www.ethnews.com/wp-content/uploads/2024/08/image-1.png" alt="Recently, Kennedy unveiled some ideas he has about cryptocurrency. " width="709" height="398">
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 Recently, Kennedy unveiled some ideas he has about cryptocurrency. – Source: Forbes
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Bitcoin, unlike traditional fiat currencies, is a crypto asset that cannot be physically held and is obtained either through direct purchase on platforms like Coinbase and Robinhood or via mining. It’s limited to a total potential supply of 21 million units, which contributes to its perception as a scarce resource, often likened to digital gold.
By aiming to control a substantial portion of Bitcoin’s total supply, Kennedy suggests that the U.S. could leverage influence over its market value.
<blockquote>
 RFK Jr. with @natbrunell: “#Bitcoin is going to play a critical role, almost a magical role in restoring our economy. I’ll order the Federal Reserve and the Treasury to purchase several million Bitcoins and use that as the basis for the “American dollar.”
</blockquote>
This decision remains complex, as Kennedy originally entered the race with the intention of winning the presidency and promoting reforms in cryptocurrency and economic policy.
The campaign’s emphasis on cryptocurrency has increased its relevance, particularly among voters interested in the future regulation and development of the <a href="https://www.ethnews.com/exclusive-inside-trump-jr-s-plan-to-overhaul-finance-with-blockchain-banks-beware/" rel="noopener noreferrer nofollow">crypto market</a>.&nbsp;
A potential <a href="https://www.ethnews.com/you-wont-believe-how-much-crypto-trump-owns-now/" rel="noopener noreferrer nofollow">alliance with Trump</a>, who has also expressed interest in cryptocurrency, could significantly influence the campaign’s impact on the U.S. elections in 2024.
The possibility of Kennedy endorsing Trump has led to mixed reactions among his campaign volunteers. This has sparked a debate about the campaign’s independence and the broader implications for the two-party system.&nbsp;
In a recent online meeting with over 100 campaign workers, the discussions highlighted a division among volunteers. Some expressed willingness to support Kennedy even if he backs Trump, while others considered writing him in as a protest.
The post <a href="https://www.ethnews.com/rfk-jr-considers-backing-trump-a-mega-move-for-bitcoins-future/" rel="noopener noreferrer nofollow">RFK Jr. Considers Backing Trump: A Mega Move for Bitcoin’s Future?</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

RFK Jr. Considers Backing Trump: A Mega Move for Bitcoin’s Future?

ETHNews

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