US Presidential Candidate Robert F. Kennedy Jr. Touts Cryptocurrencies as the Best Hedge Against Inflation
US Presidential Candidate Robert F. Kennedy Jr. has praised cryptocurrencies as a valuable tool for safeguarding against inflation. In a recent discussion with Caitlin Long, the founder and CEO of Custodia Bank at ETHDenver, Kennedy highlighted the benefits of cryptocurrencies in reclaiming control from both the government and monopolistic institutions, offering individuals various freedoms.
Cryptocurrencies Protect Financial Well-being
During the conversation, Kennedy emphasized that one of the freedoms individuals should have is the ability to keep the fruits of their labor, which inflation erodes. He asserted that cryptocurrencies provide the best hedge against inflation and protect individuals’ financial well-being.
Crypto Serves as an Offramp from Money Printing Addiction
Kennedy also acknowledged that cryptocurrencies serve as an offramp from society’s addiction to the Federal Reserve’s money printing and the monopolistic banking system. He criticized these systems for funding wars and perpetuating wealth inequality among a new oligarchy of billionaires while leaving the rest of the population impoverished.
Kennedy argued that transactional freedom is as crucial to a free society as freedom of expression. He drew parallels between the guarantees of freedom of expression in the First Amendment and the importance of freely engaging in transactions. According to him, if the government had the power to shut down someone’s bank account based on differing opinions, it would undermine the essence of the First Amendment.
Kennedy’s interest in cryptocurrencies and alternative currencies grew after witnessing the trucker’s strike in Ottawa and realizing their potential to circumvent government control.
US Government’s Hostility Towards Crypto
Kennedy expressed concerns about the US government’s current stance on cryptocurrencies, describing it as a war against the innovative technology. He criticized the government’s efforts to stifle innovation, which he believed would drive cryptocurrency operations offshore to Asia and parts of Europe.
As a presidential candidate, Kennedy pledged to position the United States as a global hub for cryptocurrency and blockchain innovation. He aimed to foster an environment conducive to progress in these transformative fields.
It’s worth noting that digital assets have already emerged as a campaign issue for Republican Party presidential candidates. Florida Governor Ron DeSantis, who later withdrew from the race, expressed opposition to central bank digital currencies in the United States. Former President Donald Trump also vowed to prevent the introduction of a digital dollar if reelected, calling it a “very dangerous thing.”
According to recent reports, the majority of US voters believe that presidential candidates should have an informed perspective on innovative technologies like artificial intelligence (AI) and cryptocurrency. Additionally, California voters who own cryptocurrencies are expected to have a significant impact on the 2024 elections, with 78% of crypto holders in the state expressing their intention to vote for candidates who support new and disruptive technologies.
Hot Take: Cryptocurrencies Offer Protection Against Inflation
Robert F. Kennedy Jr., a US Presidential Candidate, has praised cryptocurrencies for their ability to serve as a hedge against inflation. He believes that cryptocurrencies provide individuals with financial security by allowing them to retain the value of their labor despite inflationary pressures.
Kennedy also highlighted how cryptocurrencies offer an offramp from society’s addiction to money printing by central banks and monopolistic banking systems. He argued that transactional freedom is essential for a free society and compared it to freedom of expression guaranteed by the First Amendment.
However, Kennedy expressed concerns about the US government’s hostility towards cryptocurrencies, describing it as a war against innovation. He pledged to position the United States as a global hub for cryptocurrency and blockchain innovation if elected as President.
It is evident that cryptocurrencies have become a significant topic in US politics, with Republican Party candidates also expressing their views on digital assets. The majority of US voters believe that presidential candidates should have an understanding of innovative technologies like cryptocurrency and artificial intelligence.
As the 2024 elections approach, California voters who own cryptocurrencies are expected to play a crucial role. A large percentage of crypto holders in the state intend to vote for candidates who support new and disruptive technologies.
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