Robert F. Kennedy Jr., a contender for the US presidency in the 2024 elections, has publicly endorsed Bitcoin and other cryptocurrencies as a means for the public to break free from what he dubs “a financial bubble.” Running as a Democrat, Kennedy criticizes the current Biden Administration for their perceived antagonism toward digital currencies.
Kennedy lambasts the Federal Reserve and big banks for creating a staggering $10 trillion in the period between 2008 and 2022. He sees cryptocurrencies, like Bitcoin, as a lifeline for the public, allowing them to escape the inevitable fallout when the financial bubble bursts. Kennedy argues that the White House is conspiring with banks to maintain this bubble, keeping the public entrapped in a system of manipulation and profiteering.
The environmental lawyer has also raised eyebrows for his opposition to a potential central bank digital currency (CBDC) in the US, claiming it would lead to “financial slavery and political tyranny.” The Federal Reserve has announced its plans to launch a digital payment and settlement service called FedNow in July, but it has not indicated that it will use CBDCs for processing payments.
As the Biden Administration considers the possibility of using CBDCs to issue digital dollars, Kennedy’s statements on the matter are sure to ignite discussion and debate on the role of digital currencies in the nation’s financial future.