RFK Jr. Says Most of His Wealth is Now in Bitcoin, What’s Next for BTC?

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Crypto Writer

Arslan Butt

Crypto Writer

Arslan Butt

Part of the Team Since

Sep 2022

About Author

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

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Last updated: 

November 19, 2024

Robert F. Kennedy Jr. has made waves in the cryptocurrency world by revealing that a significant portion of his wealth—approximately 70%—is now in Bitcoin. Known for his staunch advocacy of decentralized assets, Kennedy sees BTC as a safeguard against currency inflation and a path to financial sovereignty.

In a November 16 online statement, he called Bitcoin the “currency of freedom,” highlighting its role as a hedge against government-controlled monetary policies.

In a previously resurfaced video, Kennedy emphasized his commitment to BTC , stating, “I went home and put most of my wealth into Bitcoin, so I’m fully committed.”

His perspective aligns with his longstanding belief that hard assets like BTC, gold, and silver could stabilize the US dollar and protect it from devaluation.

The Broader Implications for Bitcoin

Kennedy’s Bitcoin enthusiasm isn’t limited to personal investments. In 2024, he advocated for placing the entire US fiscal budget on the blockchain to enhance transparency.

During the BTC 2024 event in Nashville, he proposed creating a BTC strategic reserve, pledging to transfer government BTC holdings to the Federal Reserve if elected.

His vision underscores Bitcoin’s potential to bolster the US dollar’s reserve currency status. Kennedy’s bold stance could signal a growing trend among public figures to adopt Bitcoin as both a personal asset and a national economic tool.

BTC/USD Price Outlook: Key Levels to Watch

Bitcoin is currently trading within a symmetrical triangle pattern, consolidating around the psychological support of $90,000. The 50-day EMA provides a key support level at $90,160.

A breakout above $92,000 could propel BTC toward $93,450, with $95,118 marking the next resistance. Conversely, failure to sustain $90,000 may expose Bitcoin to support at $88,431 or $87,128.

Key Price Levels:

• Support: $90,160 (50 EMA), $88,431, $87,128.
• Resistance: $92,000, $93,450, $95,118.

Technical Indicators:

• RSI: Neutral at 52.88, signaling consolidation.
• 50-Day EMA: Strong support at $90,160.

A decisive move beyond the triangle’s bounds will set BTC’s trajectory, with a bullish push potentially catalyzed by increased adoption from advocates like RFK Jr.

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