Presidential Candidate RFK Jr On Why He Supports Bitcoin And Opposes CBDCs: 'Not A Right- Or Left-Wing Issue'
Robert F. Kennedy Jr., a presidential nominee, voiced his support for Bitcoin (CRYPTO: BTC) and opposition to central bank digital currencies (CBDCs) on Thursday.
What Happened: Kennedy Jr. stated that “it's not outlandish to imagine that even here in America, your bank account could one day be frozen because of your politics, or comments you've made on social media.”
"This is not a right- or left-wing issue. It is about protecting democracy from powerful established interests," he tweeted.
He cited various examples to illustrate the arbitrary decisions made by private companies, which often act out of fear of Congress or regulators.
"Private companies are acting out of fear of Congress or regulators, or directly at their bidding. Their decisions impinge directly on our rights," he tweeted.
See More: Is Bitcoin a Good Investment?
Why It Matters: Kennedy Jr. insists that CBDCs would offer the government "unprecedented powers to surveil and control economic life", which could stifle dissent through the cutting off of access to funds with merely a keystroke.
To prevent this, Kennedy Jr. advocates for Bitcoin. He said, “Bitcoin has been a lifesaver for people's movements around the world, especially in Burma.
Earlier, this week he criticized President Joe Biden’s proposed 30% tax on cryptocurrency mining, calling it a “bad idea."
Price Action: At the time of writing, BTC was trading at $29,085, up 0.06% in the last 24 hours, according to Benzinga Pro.
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Posted-In: 2024 Presidential Race Bitcoin RFK Jr Robert F Kennedy JrCryptocurrency News Politics Markets
