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- Democratic presidential candidate Robert F Kennedy Jr has admitted Bitcoin has intrinsic value and the government should not launch CBDC.
- Kennedy slammed the SEC for not being crypto-neutral in regulating the nascent industry.
The United States 2024 presidential race has been gaining more momentum as popular political figures enter the primaries for the Democrats and Republicans. Already, former United States President Donald Trump, current President Joe Biden, and environmental lawyer Robert F Kennedy Jr are all eyeing the country’s top position.
Arguably, the high adoption of the cryptocurrency market in the United States is expected to have a significant impact on the presidential winner next year. Moreover, more investors are worried about the increasing crypto regulations by enforcement in the United States that have chased several firms to overseas markets.
With crypto investors in the United States totaling more than 16 percent of the entire population, presidential candidates are more likely to lean on their side to win their votes as a block.
Robert F Kennedy Jr on Bitcoin and Crypto Market Outlook in the United States
According to Robert F Kennedy Jr in a recent interview with TheStreet Crypto’s Rob Nelson, Bitcoin is a way out of the ballooning inflation and can be trusted. The anti-CBDC presidential candidate noted that he may consider pardoning Silk Road founder Ross Ulbricht, who has been serving a lifetime imprisonment.
Meanwhile, the Democratic presidential aspirant highlighted that the United States Securities and Exchange Commission requires commissioners who are neutral on crypto as he added that Bitcoin holds intrinsic value.
One of the fundamentals of Bitcoin is that you can trust it,
Kennedy noted adding:
…nobody can manipulate it. There’s no human being that can manipulate it. What happens with Bitcoin is very, very democratic. It’s all decided by all the miners in a democratic way and by algorithms that can’t be manipulated.
Notably, Kennedy criticized the Federal Reserve for the rampant high inflation that has been feeding governments corruption and unwarranted spending. This comes as the Federal Reserve is preparing to launch a digital dollar through the FedNow platform.
The anti-CBDC presidential candidate noted that the government should not follow the path of China in controlling the lives of its people. In any case, Kennedy thinks the CBDC will significantly reduce the democracy and freedom that people have long enjoyed with paper money.
“They had people going out looking at the license plates, facial recognition, and doing data mining on these people to find out who they were, and then shutting down their bank accounts, so they couldn’t pay their mortgages, they couldn’t pay their alimonies, they couldn’t pay for food for their families and children,” he said. “If a government has that power, it can turn us all into slaves overnight.”
Bigger Picture
The adoption of cryptocurrency as a form of payment or investment assets seems imminent in global countries despite resistance from some regulators. Already, Hong Kong has enacted favorable crypto policies that favor the adoption of digital assets in the Eastern Asian markets. Additionally, the European market recently passed the Markets in Crypto-Assets Act (MiCA) legislative standards that favor digital assets adoption.
