Independent Presidential candidate Robert F. Kennedy Jr. reiterated his worries about central bank digital currencies (CBDCs) and their potential threat to financial autonomy, promoting Bitcoin (CRYPTO: BTC) as a potent solution.
What Happened: In conversation with Peter McCormack on the “What Bitcoin Did” podcast, Kennedy expressed the risks associated with CBDCs, The Daily Hodl reported. He suggested CBDCs could impinge on personal liberties by allowing governments to scrutinize all aspects of an individual’s expenditure.
Kennedy cautioned that CBDCs might be connected to elements such as social credit scores, giving governments the power to curtail an individual’s ability to use their money for specific purposes.
See Also: EXCLUSIVE: Robinhood Showcases Self-Custody Option — ‘You Get More Crypto For The Dollar’
On the other hand, Kennedy praised Bitcoin as the remedy to the potential threats posed by CBDCs. He referred to it as an “elegant solution” that assures transactional freedoms, underlining that Bitcoin is not governed by any entity and fosters global freedom.
“I'm for freedom. Bitcoin is, for transactional freedom, that's the most elegant solution,” he added
Why It Matters: Kennedy’s recent remarks echo his previous concerns about CBDCs. In April 2023, he expressed apprehension about the launch of CBDCs following his announcement to run for the 2024 Presidential election. He criticized the Biden administration’s “steady barrage of hostile broadsides against cryptocurrencies.”
Read Next: ETF Hype, Binance Settlement Ignites Bitcoin Rally; Shiba Inu, Dogecoin Soar: Will $40,000 Be The Next BTC Target?
Image via Shutterstock
Engineered by Benzinga Neuro, Edited by Pooja Rajkumari
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
