US Presidential candidate Robert F. Kennedy Jr. expressed concerns about the government’s intentions to introduce a central bank digital currency (CBDC), which worries him. He emphasized that CBDCs are tools for government control and power. Kennedy Jr. believes in Bitcoin as a “freedom currency,” independent of government influence, asserting that financial freedom is as vital as freedom of speech.
Is this a vote bank strategy since no govt so far has acted in direct favor of Bitcoin, keeping its volatile nature in mind? Countries worldwide want to embrace this innovation, but it also comes with a national and security threat if allowed without clear guidelines. All the top countries in the G20 summit recently acknowledged this digital trump card to curb the inflation rate.
The US alone cannot Stop Bitcoin. Bitcoin is New Age Freedom.
He warned that CBDCs could be used as a pretext to phase out physical cash, allowing the government to exert programmable control over spending.
Kennedy Jr. made headlines in July 2023 when he revealed that he gifted each of his seven children two Bitcoins. He advocates cryptocurrencies as tools to uplift the economically disadvantaged and has proposed various regulatory measures to promote Bitcoin usage.
Lost Faith in Fiat Currency?
He also discussed the US Dollar’s uncertain future, citing the BRICS Group’s rapid growth as a potential threat. Although the group lacks its reserve currency, member nations facilitate transactions in local currencies, potentially challenging the Dollar’s position as the global reserve currency. Additionally, Kennedy Jr. previously mentioned plans to support the US Dollar with Bitcoin and to make Bitcoin profits exempt from capital gains taxes.