Bitcoin Price Prediction: Robert Kennedy Jr. Advocates for US to Hold as Much BTC as Gold
Bitcoin (BTC), the world’s oldest and most valued cryptocurrency, has managed to recover and gain bullish traction above the $67,920 mark. The global crypto market cap stands at $2.39 trillion, with a 24-hour jump of 3.39%.
This rally can be attributed to several factors, including Robert Kennedy Jr.’s advocacy for the U.S. to hold Bitcoin like gold, spurring investor optimism and increased demand for the asset.
Robert Kennedy Jr. has expressed stronger support for Bitcoin than Donald Trump, envisioning the U.S. government holding as much Bitcoin as gold by the end of his term. Currently, the government holds 210,000 Bitcoins compared to $640 billion in gold reserves. Kennedy sees Bitcoin as a tool to restore individual freedom and combat inflation.
Meanwhile, VanEck’s Matthew Sigel predicts Bitcoin could reach $325,000 in five years. This forecast is driven by growing distrust in traditional institutions and fiscal irresponsibility, suggesting Bitcoin could become a significant part of international trade and central bank reserves.
Kennedy’s strong Bitcoin stance and his promise to match gold reserves could boost BTC’s price by increasing demand and confidence. VanEck’s prediction of Bitcoin reaching $325,000 in five years, fueled by institutional distrust and fiscal issues, further supports potential price gains.
Bitcoin and U.S. equities surged following a cooler Personal Consumption Expenditures (PCE) inflation reading, which brought inflation closer to the Federal Reserve’s 2% target.
The PCE price index rose by 0.1% in June and was up 2.5% from a year ago, down slightly from May’s 2.6%. Bitcoin’s price increased by 4.7% to $67,689 in response to this positive news.
U.S. stock markets also performed well. The Dow Jones
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