- RFK Jr. dropped out of the US presidential race and endorsed Donald Trump.
- Polymarkets show that Trump and Harris’ chances of winning are 50% and 49%, respectively.
- Bitcoin surged almost 5% and reached a high of $64,000 following RFK Jr.’s drop out.
Robert F. Kennedy Jr., an independent candidate in the 2024 United States presidential elections, has thrown his support behind Republican candidate and former US president Donald Trump. This unexpected alliance led to a significant surge in the price of Bitcoin (BTC), the world’s largest cryptocurrency.
According to a report from BBC, RFK Jr., joined Trump on stage at a rally in Arizona after confirming that he would drop out of the presidential race and the two teamed up to take the fight to the Democratic Party and its candidate, Kamala Harris. Polymarkets data shows that Trump has a 50% chance of winning while Harris stands close at 49%.
Trump praised RFK Jr., as “phenomenal” and “brilliant” during the rally at Glendale. Meanwhile, Harris had earlier stated that she would try to win the support of Kennedy supporters but it was clear that Kennedy Jr. favors Trump and so would his supporters.
RFK Jr., son of US Senator Robert F Kennedy and nephew of President John F Kennedy, hails from one of America’s most influential political families. As per RFK Jr., Trump Trump would “make America healthy again” and will be a president “who is going to protect us against totalitarianism.”
In the wake of RFK Jr.’s endorsement of Trump, Bitcoin turned bullish and reached as high as $64,000, with a 5% surge in price in the past 24 hours. The trading volume for BTC skyrocketed 68.96% reaching $43 billion while its market cap rose to $1.26 trillion.
Bitcoin is up 8.03% since the past week, but down 2.73% over the past 30 days. However, it is noteworthy that BTC is up 141.67% since August 2023, though it remains 13.31% below its all-time high of $74,750, achieved on March 14.
The surge in Bitcoin’s price can be attributed to RFK Jr., extending support to Trump as the former US president has promised to revolutionize the digital asset space and revealed numerous Bitcoin adoption strategies if he were to become president.
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Source: https://coinedition.com/rfk-jr-backs-trump-bitcoin-price-surges-after-alliance/