? Worried About Potential US Govt Action Against Bitcoin?

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US Presidential candidate Robert F. Kennedy Jr. has expressed concern about the government’s plans to issue the central bank digital currency (CBDC), describing them as instruments of power and control. He believes that Bitcoin can be a “freedom currency”, independent of governments and as important as freedom of speech. Kennedy Jr. remarked to Bitcoin Magazine that the CBDCs will be used to abolish cash currencies and control people’s spending.

In July 2023, Kennedy Jr. made headlines when he revealed that he had bought each of his 7 children 2 Bitcoin each. He is known to advocate for cryptocurrencies as tools with potential to alleviate poverty, while also proposing several regulatory initiatives to encourage the use of Bitcoin.

Kennedy Jr. believes that the future of the US Dollar is uncertain due to the exponential growth of the BRICS Group. The group does not have a reserve currency of its own, but its members allow transactions to be settled in local currencies, which poses a threat to the Dollar’s status as the world reserve currency. Additionally, CoinGape previously reported Kennedy Jr.’s comments about plans to back the US dollar with Bitcoin and making Bitcoin profits exempt from capital gains taxes.

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