In a recent interview with CNBC, Robert F. Kennedy Jr. extolled the merits of Bitcoin, a decentralized currency sheltered from the inflationary excesses of States.
JFK’s nephew and US presidential candidate Robert F. Kennedy Jr. believes Bitcoin can protect citizens from “money printing” by central banks. According to him, making the queen of cryptocurrencies accessible to as many people as possible is essential to preserve individual freedoms.
A Currency Protected from State Manipulation
According to the White House candidate, the government must facilitate access to bitcoin to the middle class, so that they can protect themselves against “the Federal Reserve’s money printing press,” a direct allusion to the very accommodative monetary policy of the Federal Reserve, which massively injects liquidity into the economy, fueling inflation.
Therefore, Bitcoin constitutes a credible alternative, due to its programmed scarcity and its independence from central banks. RFK Jr. also describes Satoshi’s invention as “strong currency”, capable of protecting the purchasing power of households.
Kennedy points the finger at certain Wall Street giants, such as BlackRock or the big banks, which, according to him, benefit from “The Federal Reserve’s unlimited printing press.” In fact, these institutions make money through inflation, and would seek to hinder the adoption of cryptocurrencies, escaping their influence.
Bitcoin is precisely an alternative to this failed system, believes Kennedy Jr. As a “strong currency”, the cryptocurrency escapes the manipulations of the State and central bankers. Therefore, it offers protection against the “money printing machine” that is bleeding the middle classes dry.
A Bulwark of Threatened Freedoms
Beyond the fight against inflation, the politician highlights another great interest of Bitcoin: the preservation of citizens’ freedom of transaction.
Kennedy thus recalls that during the “Freedom Convoy 2022” demonstrations in Canada, the Trudeau government froze the bank accounts of opponents, preventing them from paying their bills. A serious attack on fundamental freedoms.
In contrast, the decentralized and anonymous nature of Bitcoin makes it immune to this type of state obstruction. From there, Kennedy Jr. is categorical: “Freedom of transaction is as important as freedom of expression and you only get it with bitcoin.”
Longtime Support for Bitcoin
This is not JFK’s first statement of support for Bitcoin. In 2021, he bought BTC for his children, believing it was an investment for the future. RFK Jr. also promised that if elected president, he would protect Americans’ right to own Bitcoin.
He also pledged to prevent the US central bank (Fed) from issuing its own digital currency. In his opinion, central bank digital currencies (CBNC) open the door to widespread monitoring of transactions.
It is a radically opposite position from that of some Wall Street experts, such as JP Morgan CEO Jamie Dimon. The latter calls for a complete ban on Bitcoin, which he considers too volatile and speculative.
With his forceful statements, RFK Jr. places the debate on the regulation of cryptocurrencies at the center of the US presidential campaign. If he won, Bitcoin could become a perfectly legal and encouraged means of payment in the United States.
It remains to be seen whether this position will allow him to unite beyond the libertarian fringe. At a time when the Federal Reserve is aggressively raising rates, making Bitcoin a symbol of inflation resistance could pay off.
By Leonardo Perez
