Posted: November 19, 2024

• RFK has endorsed Bitcoin as a hedge against inflation.
• The Polish presidential candidate vowed to follow in Donald Trump’s footsteps. 

As the dust settles from the recent U.S. election, cryptocurrency has proven to be more than a financial instrument; it has become a political statement. 

This election season saw candidates from both sides of the aisle taking firm stances on digital currencies. The newest one comes from Robert F. Kennedy Jr, Donald Trump’s pick for the U.S. Health Secretary.

In the latest post on X (formerly Twitter), Kennedy stated,

“Bitcoin is the currency of freedom, a hedge against inflation.”

He emphasized its significance for middle-class Americans as a safeguard against the dollar’s diminishing global standing and a potential solution to the nation’s mounting debt. 

RFK’s longstanding Bitcoin advocacy

Worth noting that this isn’t the first time Kennedy has championed Bitcoin [BTC]. In a recently resurfaced video, he reaffirmed his commitment to the cryptocurrency, calling himself a ‘huge supporter’.

He added that after attending the Bitcoin conference, he, 

“Put most of my wealth into Bitcoin, so I’m fully committed.”

Kennedy’s backing of Bitcoin underscores its evolving role not just as a financial tool but also as a cornerstone of his policy advocacy.

Another Bitcoin President?

Kennedy isn’t the only global political figure embracing cryptocurrency. Polish presidential candidate Slawomir Mentzen has also voiced his support for Bitcoin. 

In a post on X, Mentzen declared his intention to transform Poland into a global crypto hub, remarking: 

“If I become the President of Poland, our country will become a cryptocurrency haven.” 

He elaborated on plans to achieve this vision, promising low taxes, crypto-friendly regulations, and support from banks. Mentzen’s dedication to cryptocurrency is personal as well as political—he owns over $3 million in BTC.

Interestingly, his proposal to create a strategic Bitcoin reserve mirrors similar policies discussed in the U.S., showcasing crypto’s growing appeal as a geopolitical asset.

Bitcoin overtakes Saudi Aramco

Meanwhile, Bitcoin has continued its meteoric rise, recently surpassing $90,000. This surge in value has now made it the seventh-largest asset worldwide by market capitalization. 

According to data from CompaniesMarketCap, Bitcoin with a market cap of $1.79 trillion dethroned oil giant Saudi Aramco to take its place, which boasted a market cap of $1.78 trillion at press time.  

This achievement follows Bitcoin’s recent milestones of surpassing Meta and Silver.

Ergo, the question: How long till Bitcoin overtakes Alphabet, the parent company of Google?

AMBCrypto used the Crypto Market Cap Calculator, to find out that Bitcoin would need an average price of $110,000 to achieve a market cap of $2.17 trillion, thus surpassing Alphabet. 

Whether that will happen this soon or never remains uncertain.

However, its surging value and increasing political influence signify that Bitcoin is no longer just a cryptocurrency—it is evolving into a major force on the global stage.