Democrat Presidential Candidate Robert F. Kennedy Jr. Endorses Bitcoin as Ideal Currency

Robert F. Kennedy Jr., a Democrat running for president in 2024, said in a recent interview with TheStreet Crypto that he thinks Bitcoin is the “perfect base currency.” Kennedy contends that virtual currencies like Bitcoin offer “exit ramps” for Americans to avoid the negative impacts of inflation-instigated by central banks.

As a key benefit, Kennedy notes that Bitcoin’s limited supply is one. He stated, “[Bitcoin is] the perfect base currency, because there’s a finite amount of it… The Bitcoin that exists on the Earth is infinitely divisible, so it’s kind of the perfect currency – it has an intrinsic value and it gives people a way out.”

Trust and Decentralization as Bitcoin’s Foundations

Kennedy underlines the fact that trust is the core element of Bitcoin while not being a Bitcoin investor himself. He claims that nobody can control Bitcoin and that its democratic nature is defined by miners and infallible algorithms. “And nobody can manipulate it. There’s no human being that can manipulate it. What happens with Bitcoin is very, very democratic. It’s all decided by all the miners in a democratic way and by algorithms that can’t be manipulated.”

Kennedy questions the Securities and Exchange Commission‘s (SEC) lack of transparency in its approach to regulation of cryptocurrencies. His position on the need for regulatory clarity and a more favorable climate for crypto assets is reflected in this criticism.

Kennedy’s Commitment to Bitcoin and Individual Rights

Kennedy made a significant revelation that his presidential campaign would be the first in American history to accept Bitcoin payments during his appearance at the Bitcoin 2023 Conference in Miami. In the event that he is elected president, he promises to defend the right to possess and use Bitcoin since he thinks it can act as a barrier against totalitarian censorship. He said, “As president, I will make sure that your right to hold and use Bitcoin is inviolable. First, I will defend the right of self-custody of Bitcoin and other digital assets. You should be able to own your own private keys the same as you own the keys to your car or your own wallet.”

The right to self-custody of Bitcoin and other digital assets is one of Kennedy’s many commitments to individual rights. He contends that people ought to own complete control over their private keys, just as they do with their vehicle or pocket keys.

Due to its limited quantity and decentralized structure, Democratic presidential candidate Robert F. Kennedy Jr. believes that Bitcoin makes for the best base currency. He thinks that digital assets like Bitcoin provide a method for Americans to defend themselves from inflation brought on by central banks. Kennedy highlights the reliability and openness of Bitcoin while criticizing the SEC’s regulation strategy. If elected president, he promises to protect the freedom to possess and use Bitcoin and promotes the right to self-custody for digital assets. Kennedy’s support for Bitcoin demonstrates a broader dedication to individual rights and a more hospitable climate for cryptocurrencies in the US.