In a current Twitter Areas occasion on Wednesday, Robert F. Kennedy, the Democratic presidential hopeful, expressed his robust help for Bitcoin and demonstrated his dedication by buying bitcoins for every of his seven youngsters.
Canadian Truckers’ Protests Ignite RFK’s Help for Bitcoin
Kennedy’s curiosity in Bitcoin was sparked in the course of the Canadian truckers’ protests in early 2022 when the Emergencies Act was applied for the primary time in Canada’s historical past. This Act granted the federal government enhanced authority to suppress the demonstrations, resulting in the freezing of financial institution accounts and bank cards of protest leaders and supporters utilizing facial recognition and license plate identification applied sciences.
Describing this occasion as a “Damascus second,” Kennedy revealed the way it reworked his view of Canada, a rustic he as soon as noticed as a task mannequin for Western liberal democracy. Nonetheless, in the course of the protests and the implementation of the Emergencies Act, he felt that Canada had become what he thought of a “monster.” This expertise made him understand the significance of monetary transaction freedom, which he now regards as being on par with freedom of expression.
As discussions about Bitcoin amongst U.S. presidential candidates intensified, Robert F. Kennedy proposed modern ideas reminiscent of Bitcoin Treasury payments (T-bills), backed by Bitcoin and different commodities. Moreover, he advocates for eradicating the capital positive factors tax on bitcoin gross sales however with a million-dollar cap to forestall exploitation by massive funding managers.
What’s on RFK’s Agenda For Digital Property?
Notably, Kennedy has expressed disapproval of funding managers in search of Bitcoin exchange-traded funds (ETFs) and their curiosity in Bitcoin, a few of whom have utilized to the U.S. Securities and Change Fee (SEC).
It seems that Kennedy’s help for Bitcoin has been pushed by a robust perception within the significance of monetary freedom and privateness, particularly within the face of accelerating surveillance and authorities management over monetary transactions. Because the 2024 presidential marketing campaign heats up, it stays to be seen how Kennedy’s stance on digital belongings will resonate with the general public and affect the broader dialog about Bitcoin in the USA.