Presidential candidate Robert F. Kennedy Jr. has expressed his admiration for former President Donald Trump’s pro-cryptocurrency stance

What Happened: Kennedy made the remarks at the Consensus 2024 conference, CoinDesk reported Thursday.

“Commitment to crypto is a commitment to freedom and transparency,” Kennedy stated. He abstained from conjecturing whether Trump’s decision was politically driven, but expressed optimism that President Joe Biden would follow the same path.

Kennedy underscored the significance of transactional freedom and the necessity for a transparent currency. He also stressed the importance of America continuing to be the center of blockchain technology. Kennedy disclosed that he had acquired 21 bitcoins since the commencement of his campaign, in addition to purchasing three coins for each of his children.

See Also: Dogecoin Could Go To $0.322 If It Overcomes This Key Resistance Level, Analyst Notes

Furthermore, Kennedy expressed his intention, if elected, to establish cryptocurrency as a transactional currency. He voiced his conviction that cryptocurrency should be treated as a currency, not taxed as capital gains, and used for everyday purchases.

Why It Matters: Kennedy’s pro-cryptocurrency stance is not new. Earlier in March, he blamed big banks for turning Congress members against Bitcoin BTC/USD and emphasized the need for transactional freedom. He has also called cryptocurrencies the best hedge against inflation.

Interestingly enough, Trump’s view on Bitcoin was also negative around that time, in contrast to the 180-degree pivot that is currently on display.

In other news, RFKJ, the cryptocurrency themed on Kennedy, was rebranded as “BOBBY,” which Kennedy is affectionately called by his friends, family, and supporters.

Image Via Shutterstock

Price Action: At the time of writing, the PolitiFi token was trading at $0.00000259, following a 14% plunge in the last 24 hours, according to CoinMarketCap.

Read Next: Trump’s Maga Coin Jumps 7%, Coin Parodying Biden Sinks Despite Ex-President’s Conviction In Hush Money Trial —NFTs Also Show Strength

Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Investing.com – While remained in the $67,000 range before the economic data to be announced in the US, losses exceeding 5% were observed among altcoins with high market value.

After Bitcoin was quickly rejected at the $70,000 level in transactions at the beginning of the week, there were moves towards the $67,000 limit. Some market commentators emphasized the decline in momentum in the Bitcoin market, warning that its negative momentum could continue towards $65,000. However, Bitcoin maintaining the $67,000 range throughout the week made optimistic investors hopeful about the rise. As a result, there is an unstable outlook in the crypto market ahead of important inflation data.

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Unemployment claims and growth are priced in ahead of PCE data

If the data to be announced today and tomorrow in the USA deviate from expectations, volatile transactions are expected to increase in risky asset markets.

While unemployment applications and growth data in the USA today have the potential to increase volatility in the markets, the Personal Consumption Expenditures Price Index, which will be announced tomorrow, is seen as more important as inflation data closely followed by the Fed.

Accordingly, it is estimated that consumer sentiment is higher than expected, which may put pressure on cryptocurrencies along with risky markets.

While pessimistic comments about the crypto market predominated, the report of Blockchain analysis company Glassnode suggested that there were signs of a recovery in Bitcoin buyer interest. The report noted that long-term investors started saving again for the first time since December last year.

Latest situation in the altcoin market

While the overall outlook for the rest of the market remains negative, meme coins appear to be leading the decline in the top 100 cryptocurrencies. According to the latest situation, , , , and were the altcoins that fell the most in the last 24 hours.

While , one of the market’s new crypto assets, differentiates itself positively from the market with a value increase exceeding 35%, there is no cryptocurrency in the top 100 that has recorded a value increase of more than 5% in the last 24 hours.