- Robert F. Kennedy Jr., a Democrat US Presidential candidate, praises Bitcoin as the ‘perfect base currency’ and an escape route from central bank-induced inflation.
- Kennedy criticizes the SEC’s non-transparent approach towards crypto regulations and promises to uphold the right to hold and use Bitcoin if elected.
As a blockchain expert, I find the recent remarks made by Robert F. Kennedy Jr., a Democratic candidate for the US Presidential elections of 2024, regarding Bitcoin and the SEC’s crypto policies, highly intriguing. Kennedy has come forward praising Bitcoin as the ‘perfect base currency’ during an interview with TheStreet Crypto.
Bitcoin, according to Kennedy, is an ideal hedge against inflation induced by central banks. The reasons for his statement lie in Bitcoin’s finite supply and infinite divisibility, which provide it with inherent value and render it a practical currency for a wide range of transactions.
Although Kennedy isn’t a Bitcoin investor himself, he highlighted that Bitcoin’s bedrock is trust. He emphasized how Bitcoin’s democratic structure, steered by mining consensus and tamper-proof algorithms, ensures its immunity against manipulation. This decentralized structure allows people to sidestep the possibility of inflation inflicted by central banking systems, presenting Bitcoin as an ‘exit ramp’.
However, Kennedy wasn’t just vocal about the merits of Bitcoin, he also voiced his concerns about the opaque practices of the Securities and Exchange Commission (SEC) in regulating crypto. He believes the SEC lacks transparency and has failed to safeguard the interests of Americans against central banks.
Speaking at the Bitcoin 2023 Conference in Miami, Kennedy announced his presidential campaign will be the first in American history to accept BTC donations. He declared Bitcoin as a bulwark against authoritarian censorship and pledged to ensure the right to Bitcoin remains inviolate if he is elected president.
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Taking a firm stance against crypto skeptics, Kennedy stated he would not want any ‘anti-crypto’ individuals on the SEC. He believes neutrality should be the minimum expectation and the commission should include members from the crypto community.
Kennedy has a robust Bitcoin agenda that encompasses defending Bitcoin self-custody and striving to keep the U.S. at the forefront of the global cryptocurrency hub. His campaign intends to resist any move to regulate Bitcoin as a security and to consider pardoning Silk Road founder Ross Ulbricht.
His approach to Bitcoin and the SEC, thus, represents a promising potential turn of events for the cryptocurrency industry. It remains to be seen how his campaign’s stance on crypto will influence future regulations and the broader crypto community.
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