Robert F. Kennedy Jr., the first presidential hopeful to embrace Bitcoin campaign donations, aligns with competitor Donald Trump in vehemently opposing the development of a central bank digital currency (CBDC) in the United States.
Kennedy’s Vigorous Stance Against CBDC
On January 24, Kennedy took to social media to share a snippet of his appearance on X, where he discussed the imminent threats posed by a CBDC. Engaging in a conversation with Joseph Mercola, an advocate of alternative medicine known for his podcast, “Take Control Over Your Health,” Kennedy underscored the risks associated with CBDCs.
Kennedy emphasized the potential dangers of a CBDC, asserting that it could enable the government to monitor every single transaction made by citizens, leading to possible blackmail or undue pressure. He went on to describe a CBDC as a “calamity for human rights and civil rights,” drawing parallels with China’s digital yuan, which is intricately linked to a pervasive social credit system.
Chinese Model Raises Alarms
Drawing attention to China’s digital yuan, Kennedy highlighted the worrisome connection between the digital currency and the country’s extensive social credit system. He echoed concerns raised by U.S. politicians, indicating that the government could restrict an individual’s access to funds based on surveillance data, a move perceived as a threat to personal freedoms.
In related developments, BlockShow announced a crypto festival set to take place in Hong Kong on May 8-9. The event promises insights into the latest trends in the cryptocurrency industry, providing attendees with an opportunity to explore the dynamic landscape.
Kennedy’s Presidential Pledge
Kennedy, expressing his commitment to safeguarding privacy, pledged to halt any efforts to introduce a CBDC if elected president. He asserted his determination to preserve the use of traditional paper cash. Notably, Kennedy also emphasized that, in his view, Bitcoin offers superior protection compared to physical cash.
Notably, former President Donald Trump echoes Kennedy’s sentiments, promising on two occasions to resist the introduction of a CBDC in the United States. Despite previous negative comments about Bitcoin during his presidency, Trump’s former Republican Party contenders Vivek Ramaswamy and Florida Governor Ron DeSantis have taken pro-crypto and anti-CBDC stances in their respective campaigns.
Having left the Democratic Party in October 2023, Kennedy continues to navigate the political landscape. In January 2024, he hinted at potential candidacy as a Libertarian Party candidate, a move that reflects his ongoing pursuit of inclusion on state ballots.