Robert F. Kennedy, the first U.S. presidential candidate to accept Bitcoin donations, followed in the footsteps of his rival Donald Trump by promising to fight against the development and implementation of a U.S. central bank digital currency (CBDC). Kennedy also highlighted that Bitcoin (BTC) offers better protection than cash, praising the leading cryptocurrency.
“I Will Stop All CBDC Efforts”
The nephew of former U.S. President John F. Kennedy, Kennedy shared a part of an interview he gave on January 24th from his personal X account, discussing the threats of CBDC. The presidential candidate mentioned that his statements were part of an interview given to Joseph Mercola, known for promoting alternative remedies for COVID-19 and advocating for alternative medicine. Mercola hosts a podcast called Take Control Over Your Health.
In a one-minute video, Kennedy claimed that a CBDC would allow the government to have information about every transaction a citizen makes, leading to potential blackmail or coercion, stating, “A CBDC is a complete disaster for human rights and civil liberties.” Kennedy cited the digital Chinese yuan, which is tied to an extensive social credit system, and according to U.S. politicians, the government could block an individual’s funds if street surveillance cameras detect any non-compliance.
A 2023 Chainalysis report had previously raised privacy concerns for Chinese citizens. The report warned that China could combine financial data produced for the digital Chinese yuan with other supporting data and transfer it to the social credit system.
Kennedy promised that if elected president, he would end all efforts to develop and issue a CBDC and would do everything in his power to ensure the existence of paper money. He also reminded listeners of Bitcoin, emphasizing that the largest cryptocurrency would offer them better protection than cash.
Donald Trump Also Expressed Opposition to CBDC
Donald Trump, seen as the most likely candidate to win the U.S. presidency, was the first to declare he would never allow a CBDC. Trump has made two statements on this issue so far.
While Trump made some negative comments about Bitcoin during his presidency, his former Republican rivals Vivek Ramaswamy and Florida Governor Ron DeSantis took pro-crypto and anti-CBDC stances in their presidential campaigns. Both Ramaswamy and DeSantis supported Trump after dropping out of the presidential race.
