Following his bold statement at the bitcoin 2024 conference in Nashville, US presidential candidate and cryptocurrency advocate, Robert F. Kennedy Jr. has once again demonstrated its unwavering support for bitcoin, emphasizing its importance in promoting financial freedom and economic resilience. His continued advocacy for the digital asset is proof of his belief in the revolutionary potential of cryptocurrencies.
bitcoin will boost economic recovery in the US
In the race to do bitcoin, a strategic reserve asset In the United States, Kennedy Jr. claimed that bitcoin would play a crucial role in the recovery of the country's economy. The presidential candidate made this bold statement at a recent x.com/TFTC21/status/1817994378352148861″ target=”_blank” rel=”noopener nofollow”>interview with Coin Stories podcast host Natalie Brunell.
Considering his firm belief that bitcoin could be crucial to restoring the American ecosystem, Kennedy pledged to order the Federal Reserve and the Treasury to purchase several million btc, which would serve as the basis for the US dollar. This move, according to Kennedy, will also boost a global recovery of the US dollar, as the country will be a leader in btc adoption.
In addition, the cryptocurrency advocate emphasized bitcoinThe fast transaction nature of cryptocurrency overcomes any hurdles of banking fees or other transactional fees. Because of this, he believes btc will potentially serve as a hedge against inflation, meaning mass adoption of the crypto asset across the world, further strengthening the US dollar and putting an end to the country’s struggles with balance and payment.
Kennedy noted that bitcoin offers a better investment alternative for major countries like China, Russia and Argentina that are unable to invest in the United States due to regulatory hurdles. With all the world's money flowing into bitcoin, the presidential candidate aims to increase the US reserve of btc to about 20% of the asset's total supply. “That will go from a value of a trillion dollars to gradually generating $40 trillion a year in interest and value. And that pays for all of our US debt“, he added.
According to Kennedy, this measure is an important step that the United States should consider in order to improve its economy. Therefore, he promised to make it possible if he wins the next elections, and described the measure as the resurrection of the American middle class.
How to get out of the Federal Reserve's money printing machine
Robert F. Kennedy’s endorsement of btc is attributed to his firm belief that the crypto asset could pave the way to transactional freedom. Last week, in an interview on CNBC, Kennedy claimed that btc is the output of the Federal Reserve’s money printing machine, indicating its potential to offer financial independence.
It should be noted that the presidential candidate considers transactional freedom to be as important as freedom of speech. As a result, he has emphasized the need to make btc transactional so that middle-class citizens and others who want to protect themselves from economic instability like inflation can manage their money.
Featured image from YouTube, chart from Tradingview.com
