đđđ #Bitcoin⏠is a tool against governmental overreach and financial enslavement, says Robert F. Kennedy Jr.
During a fireside chat at ETHDenver 2024 with Caitlin Long, CEO of Custodian Bank, US presidential candidate Robert F. Kennedy Jr. emphasized the critical role of crypto, particularly Bitcoin, in safeguarding against governmental overreach and financial subjugation.
Kennedy's advocacy for crypto was sparked by the Canadian government's targeted financial measures against truckers during the "Freedom Convoy" protests against COVID-19 restrictions. He views transactional freedom as synonymous with freedom of expression, contending that without financial autonomy, civil liberties are jeopardized.
Pointing to crypto, especially Bitcoin, as a hedge against inflation, Kennedy's stance stems from his broader critique of the Federal Reserve and the current banking system. He argues that these systems disproportionately favor a wealthy elite, undermining the general population's financial well-being.
While acknowledging initial regulatory hurdles in crypto investment, Kennedy lauds the debut of spot Bitcoin ETFs in the US for opening the market to a wider audience, facilitating currency value discovery, and fostering overall market growth. He pledges to make the US a leading center for cryptocurrency, #blockchainâ , and #stablecoin innovation if elected president.
As part of his agenda, Kennedy aims to revise the tax treatment of Bitcoin, proposing to remove its classification as a security. However, he expressed reservations about potential benefits for large institutions from the elimination of capital gains taxes on all Bitcoin transactions. Instead, he advocates for tax exemptions on small crypto purchases to encourage everyday usage without taxation burdens.
Kennedy plans to make US banks more crypto-friendly and stop crackdowns on banks dealing with crypto. He announced accepting Bitcoin donations and disclosed a personal investment of over $250,000 in Bitcoin during the Bitcoin 2023 conference in Miami.
