Crypto Candidate Robert F Kennedy Jr’s Video Shared by Elon Musk – Will Musk Endorse Bitcoin?

Key Takeaways

• Major tech figures like Elon Musk and Jack Dorsey have supported US Presidential candidate Robert F Kennedy Jr.
• Kennedy’s involvement in crypto events and his independent run highlight shifts in political engagement with technology.
• Musk has expressed shifting political support and a nuanced stance towards formal endorsements.
• Musk’s interactions with pro-cryptocurrency leaders like Javier Milei hint at a potential formal endorsement of Bitcoin.

Tech billionaire Elon Musk has promoted a speech  by 2024 presidential candidate Robert F Kennedy Jr, narrated by Woody Harrelson, that outlines his life and aspirations.

Given Elon Musk’s recent engagements with leading figures in cryptocurrency, it looks like he could formally endorse Bitcoin in the near future.

Robert F Kennedy Jr to Speak on Crypto Policy at Consensus 2024

In a video clip  that has gained over 41.5 million views on Twitter, and that was endorsed by Musk, Kennedy discusses media attempts to undermine him but asserts that he will persist regardless.

RFK Jr will speak at the Consensus 2024 crypto conference in Austin, Texas, this month. According to a press release , Kennedy will talk about his support for cryptocurrency and self-custody.

As an environmental lawyer and a member of a prominent Democratic political family, Kennedy’s unique perspective as a maverick presidential candidate will likely be a highlight of the conference.

Despite his Democratic lineage, Kennedy is trailing significantly behind the leading Republican and Democratic presidential candidates, Donald Trump and incumbent Joe Biden. While many Republicans have embraced pro-crypto policies, Democrats tend to be either opposed or, at best, skeptical.

Kennedy’s stance on cryptocurrency marks a notable departure from traditional Democratic positions. His uncle, John F Kennedy, was President in the early 1960s, and his father served as US Attorney General before launching his own presidential bid. RFK was the favorite to secure the Democratic nomination before his assassination in 1968.

Tech Leaders Support RFK Jr.’s Bid Despite Controversies

This isn’t the first time Musk has backed RFK Jr, but also others have publicly endorsed the candidate. Venture capitalists Jack Dorsey , David Sacks and Chamath Palihapitiya  supported him in his failed bid to win the Democratic nomination, despite his history of promoting vaccine skepticism and various conspiracy theories.

Despite controversies, Palihapitiya found him to be “really dynamic and credible.”

Sacks moderated a Twitter Spaces discussion and co-hosted a fundraiser in San Francisco with Palihapitiya, founder of Social Capital. Palihapitiya expressed optimism  about the fundraiser’s reception despite acknowledging that, he didn’t fully share all of Kennedy’s beliefs.

Musk Shifts Political Stance, Sidesteps Formal Endorsements Amid Biden Disputes

Elon Musk, whose political leanings have shifted to the right, stated in November last year that he would support Governor Ron DeSantis of Florida in his 2024 presidential campaign. However, Musk recently clarified  that he would not formally endorse any candidate.

Previously a supporter of Biden, Musk has found himself at odds with the president in recent years. The contention primarily stems from disagreements over Biden’s environmental policies and what Musk perceives as a lack of acknowledgment from the Biden administration for his contributions to the electric vehicle industry through Tesla.

Despite this, President Biden acknowledged Musk’s decision to open Tesla’s charging network to other electric vehicles, a move that came during criticism from Musk and his supporters.

Will Musk Endorse Bitcoin As Well?

Recently, Elon Musk met with Argentine President  and Bitcoin proponent, Javier Milei. This meeting marked their second encounter in less than a month. Musk did not directly mention Bitcoin, but did say he recommends investing in Argentina.

Musk has openly discussed his holdings in Bitcoin and is associated with Dogecoin. President Milei, on the other hand, has commended Bitcoin for its scarcity-driven growth model. He also described it as a means to restore monetary power to the people. Following his election, there was even speculation about the possibility of Bitcoin being adopted as legal tender in Argentina.

Musk’s Nuanced Crypto Stance

Elon Musk’s apparent endorsement  of politicians that are also Bitcoin proponents, might suggest he could also endorse BTC in the future.

However, one word of warning. Musk tanked the price of Dogecoin when he called it a “hustle” on US TV institution Saturday Night Live in May 2021. His SpaceX company caused a market slump when it sold Bitcoin in August last year, and he has previously wavered on accepting Bitcoin payments from Tesla. While some parts of the crypto community treat him as a kind of prophet, the reality is far more nuanced.

About the Author

Teuta Franjkovic

Teuta is a seasoned writer and editor with more than 15 years of experience. She has expertise in covering macroeconomics and technology as well as the cryptocurrency and blockchain industries. She has worked for several publications as a journalist and editor, including Forbes, Bloomberg, CoinTelegraph, Coin Rivet, CoinSpeaker, VRWorld and Arcane Bear. Teuta began her professional career in 2005, working as a lifestyle writer at Cosmopolitan in Croatia. From there, she branched out to several other publications, covering mainly business and the economy. She then turned her attention to the world of cryptocurrency and blockchain, believing that crypto is among the most important inventions in the history of humanity. Her involvement in fintech began in 2014 and she has since lent her expertise in writing, editing and gathering information about the world of crypto, blockchain, NFTs and Web3. An all-round news hound, mentor, editor, and writer, Teuta enjoys teamwork and good communication. She holds a WSET2 diploma and has a thing for chablis, punkrock music and shoes. She also holds a double MA in Political science and Entrepreneurship.

See more

[email protected] LinkedIn Twitter