Independent presidential candidate Robert F. Kennedy Jr. has defended the Bitcoin mining industry against criticisms regarding its environmental impact. In a letter to The Economist, Kennedy disputed the publication's characterization of Bitcoin mining and argued that it supports renewable energy. He highlighted that Bitcoin mining provides a steady income for energy providers and participates in demand-response programs, which incentivize the building of renewable energy. Kennedy's arguments have been supported by industry experts and existing literature on Bitcoin's relationship with the power grid. Kennedy, who suspended his campaign to support Donald Trump, dropped out of the U.S. presidential race and endorsed Trump in August. Both Kennedy and Trump have shown support for Bitcoin and promised to establish a national strategic Bitcoin reserve if elected.
Analyst Jamie Coutts Says Crypto Market Could Be in the Final Throes of a Bearish Phase – Here’s Why