TL;DR
- The upcoming US presidential elections feature Donald Trump, Kamala Harris, Robert Kennedy and others.
- If Kennedy wins, it could boost bitcoin’s (BTC) price due to his pro-crypto policies, although this scenario is highly speculative given his current low polling numbers.
The Surprising Scenario
The US presidential elections are less than four months away, with tension going up lately. Those going to the ballot boxes will have to choose between the Republican candidate Donald Trump, the Democratic nominee Kamala Harris, the independent Robert Kennedy, and others.
Latest polls suggest that Trump or Harris will most likely emerge victorious, collecting over 40% of the voters’ support each. Kennedy is third with less than 10%.
The potential election of Trump may positively impact the cryptocurrency market, considering his pro-crypto stance as of late, while his main opponent’s possible victory could have the opposite effect (assuming she follows the steps of the current presidency).
But what would happen to the digital asset industry, particularly bitcoin (BTC), if Kennedy surprisingly collected the most votes and became America’s 47th President? This is what we decided to ask ChatGPT.
The AI-powered chatbot assumed that BTC’s price could head north if Kennedy entered the White House as a winner based on his proposed pro-bitcoin policies. Last year, he pledged to back the American dollar with certain precious metals and the primary cryptocurrency if becoming President.
“The election of a pro-bitcoin President would likely improve market sentiment and confidence in cryptocurrencies. Positive market sentiment often leads to increased buying pressure, which can drive prices to new highs,” ChatGPT stated.
Kennedy – who is the nephew of former US President John F. Kennedy – also promised to enforce rules that let BTC thrive and allow people to control their wallets, passwords, and nodes. During Bitcoin 2024 in Nashville, he also said that he would sign an executive order as a President to mandate the government to start buying BTC.
It is worth mentioning that ChatGPT described the prediction as “highly speculative.” It also reminded that Kennedy’s chances of collecting the most votes in November this year are quite slim.
Kennedy is Also a HODLer
Besides being a firm supporter of the leading cryptocurrency, the independent presidential candidate is also a BTC investor.
Shortly after the Bitcoin conference in Miami in May 2023, he admitted purchasing two BTC for each of his seven children.
“Right after that Bitcoin conference, I got a big check, and I said, okay, you know, I’m going to put my money where my mouth is, and so I bought two BTC for every one of my seven children,” Kennedy stated back then.
The price of the cryptocurrency stood at around $27,000 at that time, meaning he must have spent approximately $380,000 to accumulate the stash.
Currently, the USD equivalent of the 14 BTC is almost $900,000, representing a 130% increase compared to the initial investment.
Meanwhile, at Bitcoin 2024 in Nashville, he said that more than 30% of his wealth is in Bitcoin.
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