Bitcoin Will Play A Critical Role In Restoring US Economy, Kennedy Jr Says
Following his bold statement at the Bitcoin 2024 conference in Nashville, United States Presidential candidate and crypto advocate, Robert F. Kennedy Jr. has once again demonstrated his unwavering support for Bitcoin, emphasizing its importance in promoting financial freedom and economic resilience. His continued advocacy of the digital asset is evidence of his conviction in the revolutionary potential of cryptocurrencies.
Bitcoin To Drive Economic Recovery In The US
In the race to make Bitcoin a strategic reserve asset in the US, Kennedy Jr. asserted that Bitcoin would play a crucial role in restoring the nation’s economy. The presidential candidate made the daring statement in a recent interview with Coin Stories Podcast host Natalie Brunell.
Given his strong belief that Bitcoin could be crucial in restoring the US ecosystem, Kennedy pledged to order the Federal Reserve and the Treasury to buy several millions of BTC, which would serve as the foundation for the American dollar. This move according to Kennedy will also drive a global recovery of the US dollar, as the country will be a leader in BTC adoption.
In addition, the crypto advocate emphasized Bitcoin‘s fast transaction nature that supersedes any hurdles from banking fees or other transactional fees. Due to this, he believes that BTC will potentially serve as a hedge against inflation, which signifies a mass adoption of the crypto asset around the world, further strengthening the US dollar and putting an end to the country’s struggles in balancing and payment.
Kennedy pointed out that Bitcoin offers a better investment alternative to major countries such as China, Russia, and Argentina that can not invest in the US because of regulatory obstacles. With all of the world’s money flowing into Bitcoin, the presidential candidate aims to increase the US BTC reserve to about 20% of the asset’s total supply. “That will go from a trillion dollar value to gradually generate $40 trillion a year in interest and value. And that pays off our entire US debt,” he added.
According to Kennedy, this move is a notable step the US should be considering to improve its economy. Therefore, he vowed to make this possible should he turn out victorious in the upcoming election, flagging the move as the resurrection of the American middle class.
Exit From The Fed Money Printing Machine
Robert F. Kennedy’s endorsement of BTC is attributed to his firm belief that the crypto asset could pave the way for transactional freedom. Last week, in an interview on CNBC, Kennedy stated that BTC is the exit from the Federal Reserve money printing machine, indicating its potential to offer financial independence.
It is worth noting that the presidential candidate considers transactional freedom just as important as freedom of speech. As a result, he has emphasized the necessity of making BTC transactional available so that middle-class citizens and others who want to protect themselves from economic instability like inflation may manage their money.
Featured image from YouTube, chart from Tradingview.com
