Robert Kennedy Jr. Advocates for Bitcoin, Cautions Against Central Bank Digital Currencies

In a thought-provoking interview with Peter McCormack on the “What Bitcoin Did” podcast, presidential candidate Robert F. Kennedy Jr. shared his concerns regarding central bank digital currencies (CBDCs) and their potential impact on financial freedoms.

Kennedy highlighted the risks associated with CBDCs, particularly their capacity to enable comprehensive tracking of personal spending by governments. He expressed that such currencies could appeal to technocrats and totalitarian regimes due to their ability to provide exhaustive insights into individuals’ financial activities. This level of surveillance, he noted, could lead to every transaction being taxable, fully traceable, and a potential revenue source for banks through transactional friction.

Further, Kennedy raised alarms about the possible integration of CBDCs with systems like social credit scores. Such a combination, he warned, could empower governments to restrict individuals’ access to their own funds based on various criteria.

Contrasting this with Bitcoin, Kennedy underscored the cryptocurrency’s role as a safeguard for transactional freedom. He praised Bitcoin as an “elegant solution,” emphasizing its decentralized nature and the control it offers users over their transactions. According to Kennedy, Bitcoin stands as a beacon of transactional freedom in a world where financial autonomy is increasingly under threat.

Kennedy’s endorsement of Bitcoin echoes a growing sentiment among advocates of decentralized financial systems, who see cryptocurrencies as a counterbalance to potential overreach by centralized banking authorities. His views contribute to an ongoing debate about the future of financial privacy and freedom in the digital age.