In an unexpected change of events, Democratic presidential candidate Robert F. Kennedy Jr. has come out in favor of Bitcoin, the most popular cryptocurrency in the world. Despite his ardent support for digital currency, Elon Musk avoided bringing it up in a recent conversation, which confused some observers. Kennedy’s dedication to Bitcoin and its guiding principles, though, is unwavering.
Kennedy, the nephew of former President John F. Kennedy, has captured the attention of many due to his powerful political lineage and his unwavering stance on Bitcoin. He views the decentralized currency as a vital tool in safeguarding democracy, positioning it as a “bulwark” against government and corporate intrusion.
During a keynote address at a Bitcoin conference in Miami, Kennedy expressed his dedication to protecting individuals’ right to hold and use Bitcoin. He stressed the importance of self-custody and personal ownership of digital assets, vehemently opposing any form of government access to private keys or passwords. His strong convictions center around preserving privacy and preventing the encroachment of a surveillance state.
Supporters who embrace the fundamental principles of decentralization, financial independence, and individual empowerment are drawn to Kennedy’s pro-Bitcoin attitude. His most recent meeting with Elon Musk lasted over two hours, but they avoided talking about Bitcoin, which sparked rumors and intrigue in the cryptocurrency world.
Kennedy and Musk’s conversation, which was moderated by businessman David Sacks, mainly covered other tech-related topics including social media censorship and artificial intelligence. Kennedy voiced his concerns about AI legislation, highlighting the need to guard against its dangers and abuse. He emphasized how urgent it was to handle this matter, especially if he were to become president. In regards to artificial intelligence, Kennedy said, “If I do get in the White House, I think that’s one of the things that I need to pay a lot of attention to,” adding that regulation would be necessary to ensure that the technology “doesn’t end up killing us all or enslaving us.”
While Kennedy and Musk did not discuss Bitcoin during their chat, his prior appearances and speeches have shown his steadfast dedication to cryptocurrencies. Kennedy promoted Bitcoin as a democratic activity at the Bitcoin conference and took inspiration from Canadian truckers who were protesting COVID regulations and who first made him aware of the potential of the cryptocurrency.
It is worth noting that Kennedy’s silence on Bitcoin during his conversation with Musk coincided with a lawsuit filed by the Securities and Exchange Commission against Binance and its CEO, which unsettled cryptocurrency markets. Additionally, Kennedy’s Twitter discussion with ex-Coinbase CTO Balaji Srinivasan predominantly revolved around the devaluation of U.S. Treasuries, showcasing a focus on economic concerns rather than crypto-specific matters.
Despite the absence of explicit Bitcoin discourse during recent engagements, Kennedy’s endorsement by Jack Dorsey, the co-founder of Twitter and CEO of fintech firm Block, has further elevated his standing in the eyes of the cryptocurrency community. Dorsey’s public support signifies recognition of Kennedy’s outsider status and rejection of traditional political norms, which many find appealing.
Although it may seem unlikely that Kennedy would be elected president, his persistent support for Bitcoin has raised awareness of the cryptocurrency and its potential as a tool for defending democracy and individual rights. Kennedy’s views on Bitcoin may continue to be important as the campaign develops, connecting with voters who value financial independence and privacy in an increasingly digital environment.