Robert F. Kennedy Jr. To Accept Campaign Donations In Bitcoin

May 19, 2023 3:21 pm Comments

Presidential candidate Robert F. Kennedy just announced that he will be accepting Bitcoin for his campaign donations.

This is actually the first presidential candidate in history to accept campaign donations in Bitcoin which indicates how far crypto has come since its inception.

Kennedy has built a reputation as being an extremely pro-crypto candidate where he praises crypto as being a symbol of freedom.

He made his first appearance as a candidate at the Bitcoin conference this year and has also been publicly against central bank digital currencies.

Whether or not he can get enough supporters to win is still unknown, but it is clear that the government needs pro-crypto members in order to create a favorable regulatory environment.

CoinTelegraph reports:

The candidate — who is challenging Joe Biden — has been sharing his libertarian views about cryptocurrencies on Twitter.

In a post on May 3, RFK stated that “crypto technologies are a major innovation engine,” adding that the United States is hobbling the industry and driving “innovation elsewhere.”

By attending the Bitcoin event RFK is not only targeting voters, but also a potential source of millions of dollars in donations.

During last year’s midterm elections, Sam Bankman Fried, former CEO of now-bankrupted crypto exchange FTX, donated $40 million in support of candidates. Crypto exchange Coinbase has also been actively lobbying for legislation regulating the crypto space in the country.

RFK’s increased commitment to cryptocurrencies coincides with a tight regulatory environment in the United States spreading uncertainty among players and harming an already battered industry.

Kennedy continues to share details such as the fact that the US economy would be stronger if it diversified into a variety of different currencies instead of just the USD.

He says that reliance on just one currency makes the economy quite fragile, especially if inflation concerns persist.

On the other hand, decentralized assets like Bitcoin and XRP are known to be an effective hedge against inflation due to their limited supply and increasing demand.

During his appearance at the Bitcoin 2023 conference, Kennedy made it his campaign goal to drive Bitcoin and crypto innovation within the US.

BitcoinMagazine shares the details:

“First, I will defend the right of self custody of bitcoin and other digital assets,” he said.

“Second, I will uphold the right to run a node at home… Third, I will defend use-neutral, industry-neutral regulation of energy… Fourth, I will make sure that the United States remains the global hub of Bitcoin and other cryptocurrencies… I will reverse the government’s growing hostility toward this industry.”

Finally, he said that he would look closely at “whether individuals like Ross Ulbricht,” the founder of darknet, bitcoin-based marketplace Silk Road who received a double life sentence in 2013, were prosecuted “for actual crimes, or as a means to crackdown on crypto.”

“I will consider pardoning them and I will act very quickly to do so,” Kennedy added.

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