Bitcoin Needs to Be Accessible to the Middle Class: RFK Jr.

Independent presidential candidate and environmental lawyer Robert Kennedy Jr. disclosed his continued support for Bitcoin, emphasizing its role in protecting the American middle class from the impacts of inflation. 

Kennedy asserted that bipartisan calls for a Bitcoin ban by some Congress members were fueled by financial interests tied to major banking institutions such as BlackRock and JP Morgan.

As reported earlier by TheCoinRise, Kennedy stated that Bitcoin potentially offers an escape route for the bubble, which invariably collapses. He also reiterated his stance against the FedNow Central Bank Digital Currency (CBDC).

Congress Members Receiving Money from Banks

Kennedy stated in a CNBC interview that these Congress members are allegedly receiving payments from global banking monopolies profiting from inflation and Federal Reserve money printing. 

He urged the importance of making Bitcoin accessible to the middle class, emphasizing the need for both protection against inflation and transactional freedom.

Bitcoin Can Safeguard Citizens

Highlighting the recent truckers’ strike in Canada, Kennedy drew attention to the government’s control over workers by freezing their bank accounts. He argued that Bitcoin is crucial in safeguarding citizens’ transactional freedom, which he equated with the significance of freedom of speech. 

Kennedy warned against the government’s potential control over digitized currencies and stressed that Bitcoin is the solution to maintaining financial independence.

Donald Trump on Bitcoin and CBDCs

Meanwhile, Donald Trump, the leading candidate in the Republican primary race, demonstrated a nuanced stance on Bitcoin. 

While previously expressing a negative view, he has recently softened his position, stating, “I can live with it” when questioned about the cryptocurrency before the South Carolina primary elections. However, Trump remains adamantly opposed to the concept of a CBDC.

CBDC to Give Government Total Control

During campaign speeches, Trump asserted his commitment to preventing the creation of a CBDC, citing concerns over federal government control and potential threats to individual freedom. 

He argued that a central bank digital currency would grant the government absolute control over citizens’ money, enabling them to seize funds without the owner’s knowledge—a scenario he deemed perilous to freedom. “I will never allow the creation of a Central Bank Digital Currency,” Trump said while adding: 

“Such a currency would give a federal government, our federal government, absolute control over your money […] they could take your money and you wouldn’t even know it was gone.”

As the 2024 general election gains momentum, the clash of ideologies on Bitcoin and digital currencies among prominent candidates underscores the evolving dynamics of financial policy.