US Presidential Candidate Robert Kennedy Says Bitcoin Is An Escape Route• April 16, 2023 11:11 am • Comments
US presidential candidate Robert F. Kennedy just shared that he believes that Bitcoin is an escape route for people when the “everything bubble” eventually bursts.
This is one of the few times where a US presidential candidate publicly endorses crypto as most lawmakers and government officials have an aggressive anti-crypto stance at the moment.
In addition to publicly advocating for Bitcoin, Kennedy is also criticizing the use of the new FedNow CBDC which is the new CBDC that is set to arrive this summer.
This CBDC has already been in discussion by many among the crypto community, but what surprised many is how soon the CBDC would actually arrive.
Previously, many had expected that it would be many years until a CBDC would start to come into fruition.
The claim that FedNow is not the first step toward a CBDC would be more easily digestible were we not aware of the Biden administration’s steady barrage of hostile broadsides against cryptocurrencies.
Between 2008-22, the Fed partnered with a handful of big banks to print $10…
— Robert F. Kennedy Jr (@RobertKennedyJr) April 10, 2023
The US economy is certainly in its most fragile state in some time, which has led many in the finance sector to prepare for the worst.
Conversely, one candidate for the 2024 presidency has stood against the recently announced FedNow CBDC due to his belief in alternate digital assets.
Specifically, Robert F. Kennedy Jr. says Bitcoin provides an escape route to the public for when the “bubble invariable bursts.”
Moreover, he took to Twitter to state that the Fed’s newly announced digital currency is among “a steady barrage of hostile broadsides against cryptocurrencies.”
Essentially, Kennedy is saying that he believes that the new FedNow CBDC would be a potential threat to financial freedom.
After all, many have voiced concerns about a CBDC infringing on the privacy rights of the people.
As for why he believes that Bitcoin and other crypto is like an escape hatch, this is due to the decentralized nature of the assets that are not in control of any government.
This will likely be the main selling point for Kennedy’s presidential campaign run in 2024 and many wonder if there will be any pro-crypto candidates that have a chance in the next election.
It is essential for one to be elected if there is to have any good chance of changing the current regulatory environment to being positive for crypto.
— Dennis Porter (@Dennis_Porter_) April 10, 2023
Robert Kennedy’s argument is based on Bitcoin’s potential to provide an escape route for the public from the dangers of financial bubbles.
This argument is also based on the idea that cryptocurrencies like Bitcoin operate outside the traditional financial system and are not subject to the same risks and vulnerabilities.
The traditional financial system is characterized by centralized control and regulation, which can make it vulnerable to factors such as inflation, market volatility, and government policies. On the other hand, Bitcoin operates on a decentralized network, making it less susceptible to these risks.
However, while Kennedy sees Bitcoin as a potential hedge against financial instability and a way to protect wealth during economic uncertainty, the US government seems more convinced in its crackdown on the nascent industry.
— Bitcoin Magazine (@BitcoinMagazine) April 10, 2023
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