Robert F. Kennedy Jr., a candidate for the US Presidency, is worried about the government’s plan to introduce a digital currency controlled by the central bank (CBDC). He believes CBDCs give the government too much power and control. Kennedy Jr. supports Bitcoin as a “freedom currency” that’s not influenced by the government. He thinks financial freedom is just as important as freedom of speech.
Is the government’s newfound interest in Bitcoin a strategy to gain votes? No government has openly supported Bitcoin before because of its unpredictable nature. Many countries want to use cryptocurrencies, but they need clear rules to avoid national security risks. Recently, top countries in the G20 summit recognized the potential of digital currencies to control inflation.
In a recent interview with Bitcoin Magazine, Kennedy Jr. strongly supported Bitcoin.
“I am against CBDCs. I think they will become an instrument of power and control.”
Kennedy Jr. also warned that CBDCs could be used to replace physical money, giving the government control over how people spend their money.
Kennedy Jr. made headlines in July 2023 when he gave each of his seven children two Bitcoins. He believes cryptocurrencies can help those who are economically disadvantaged. He has suggested new rules to encourage people to use Bitcoin.
Kennedy Jr. stated, “I will protect Bitcoin and give people their own wallets…” The White House’s Bitcoin battle will end. I may treat it as money rather than a commodity, especially for tiny Bitcoin owners.”
Kennedy Jr. also talked about the future of the US Dollar. He mentioned that the BRICS Group, even without its own reserve currency, could challenge the US Dollar by using local currencies for transactions. Kennedy Jr. has plans to use Bitcoin to support the US Dollar and make Bitcoin profits tax-free.
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