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Democratic presidential contender Robert F. Kennedy Jr. is set to become the first presidential hopeful in U.S. history to accept campaign contributions in Bitcoin, marking his initial appearance as a presidential candidate at a cryptocurrency conference. He lauded the digital currency as a “symbol of democracy and freedom” during the gathering.
“Today, we demonstrate to the world the strength, resilience, and adaptability of Bitcoin. […] Nearly everyone in this room recognizes the connection between Bitcoin and democracy and freedom. […] They are enthusiastic due to the profound representation of a fundamental need we have for liberty and democracy and the potential this innovation holds to uphold those values."
RFK Jr. announcing the acceptance of Bitcoin donations at Bitcoin 2023 in Miami. Source: Sam Bourgi via Cointelegraph
The candidate — who is contesting President Joe Biden — has been expressing his libertarian perspectives on cryptocurrencies via Twitter. In a tweet dated May 3, RFK Jr. remarked that “crypto technologies are a significant innovation driver,” asserting that the U.S. is stifling the sector and pushing “innovation elsewhere.”
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By participating in the Bitcoin event, RFK Jr. is not only appealing to voters but also tapping into a potential source of millions in contributions. In the previous year’s midterm elections, Sam Bankman-Fried, the former CEO of the now-defunct crypto exchange FTX, contributed $40 million to support various candidates. Additionally, crypto exchange Coinbase has been actively advocating for legislation to regulate the cryptocurrency sector in the nation.
RFK Jr.’s heightened focus on cryptocurrencies aligns with a challenging regulatory landscape in the U.S., creating uncertainty among market participants and negatively impacting an already struggling industry.
The candidate posits that the U.S. economy could exhibit greater resilience with a varied currency ecosystem:
“Just as a biodiverse ecosystem is a resilient ecosystem, our economy will also be more robust if it encompasses a diverse array of currencies, rather than relying on a single, centrally controlled one. We are witnessing today the fragility of our overly centralized system."
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