Robert F. Kennedy Jr., a contender for the US presidency, expressed concern about the government’s intentions to introduce the central bank digital currency (CBDC). He reaffirmed that the CBDCs are intended to be tools of power and control for the government and added that he was concerned about the attacks on Bitcoin and the cryptocurrency ecosystem.
Transparency of Transaction
The presidential candidate claimed that Bitcoin might function as a “freedom currency” that is not regulated by any one country. He said that the right to free speech is vital, but so is the right to free commerce. Speaking to Bitcoin Magazine, he predicted that the CBDCs would eventually be used as justification for the abolition of fiat money. He claimed that because the government can program the CBDCs, they will be managed in a way that prevents people from spending as they choose.
“I am opposed to CBDCs. They’ll probably end up being used as a tool of control.
Kennedy Jr. made headlines in July 2023 when it was revealed that he had purchased 2 Bitcoin for each of his 7 children. He is well known for supporting cryptocurrencies as instruments that may help the poor escape poverty and for suggesting a number of regulatory steps to promote the usage of Bitcoin.
a risk to the US dollar
According to Kennedy Jr., given the BRICS Group’s rapid expansion, the future of the US dollar is doubtful. The member nations of the group do not have their own reserve currency, but they do permit transactions to be settled in local currencies, which jeopardizes the dollar’s position as the world reserve currency, according to the presidential contender.