- Presidential candidate Robert F. Kennedy Jr. endorses Bitcoin, defending it against environmental criticisms, and underlines the importance of freedom to transact in BTC.
- Despite Bitcoin’s current volatility, large investors, known as whales, continue to show their faith in the cryptocurrency’s future, while Kennedy Jr. discloses significant family Bitcoin investments.
In the expansive world of Bitcoin and its impact on the global financial ecosystem, presidential candidate Robert F. Kennedy Jr. has come forward to assert his firm endorsement of the cryptocurrency. His sentiments, shared in a Twitter space, involve challenging the widespread belief of Bitcoin’s damaging environmental footprint and upholding the essential freedom to transact in BTC.
Interesting argument that bitcoin not so bad for the environment after all. At the very least, environmental argument should not be used as smokescreen to curtail freedom to transact. #Kennedy24https://t.co/0BNbIJ9eoD
— Robert F. Kennedy Jr (@RobertKennedyJr) July 30, 2023
Presidential Hopeful Clears the Air on Bitcoin Investment and Advocacy
Kennedy Jr. shared his family’s engagement with Bitcoin, revealing he holds a notable amount and has even procured a substantial quantity for his seven children. Ensuring that each of his children holds 2 BTCs, the presidential hopeful’s Bitcoin investment currently estimates at over $412,734. Following criticism for his Bitcoin-friendly outlook, Kennedy Jr. asserted his commitment to the cryptocurrency, underlining that his advocacy isn’t tied to personal investment intentions.
While Kennedy Jr. insists he is not a Bitcoin investor in the conventional sense, his campaign is open to receiving donations in Bitcoin. This step towards Bitcoin-friendly campaign financing signals a shift in the political sphere’s acceptance of cryptocurrency.
Kennedy Jr’s endorsement comes amidst a turbulent period for Bitcoin. Despite the cryptocurrency’s recent slip below the $30,000 price mark, substantial investors, commonly referred to as “whales,” remain steadfast in their long-term faith. Glassnode data reveals that whale-to-exchange net flows have seen a notable increase in recent months, a testament to Bitcoin’s enduring appeal.
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The Interplay of Bitcoin, Democracy, and Economic Equity
Further embracing the cryptocurrency narrative, Kennedy Jr. criticizes the prevailing financial system, arguing that it permits the wealthy to exploit the middle class egregiously. In the same breath, he promotes Bitcoin as an element of economic equity, noting his intentions to back the US dollar with Bitcoin should he win the elections.
By incorporating Bitcoin, and other hard assets, Kennedy Jr. believes the economy could reap significant benefits. His agenda even proposes tax exemptions for Bitcoin-to-US dollar conversions, providing incentives for investors to keep their ventures within the US borders.
At a recent Bitcoin conference, Kennedy Jr. defended Bitcoin from accusations of encouraging criminal activities. Acknowledging its potential misuse, he contended that regular citizens also greatly benefit from the privacy blockchain transactions provide.
Kennedy Jr.’s robust engagement with the Bitcoin debate, both as an advocate and an investor, marks a new era in the political landscape’s interaction with cryptocurrency. His stance reinforces the importance of freedom to transact in Bitcoin while debunking environmental misconceptions, all in stride with an evident shift in the global financial paradigm.
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