Kennedy, who recently praised BTC, will run for the Democratic nomination in the 2024 presidential election.
Robert Kennedy Jr. (nephew of former President John F. Kennedy) has officially announced his candidacy for the US presidency. He will run for the Democratic nomination to try to defeat the current US President Joe Biden.
Kennedy, a self-proclaimed supporter of Bitcoin, claims that Bitcoin could provide an "escape route" for people during the financial turmoil caused by the Federal Reserve's actions.
BTC Fans Running for President
The 69-year-old environmental lawyer told the crowd he would not be an "ideal presidential candidate." Still, he vowed to end corruption and "corporate feudalism" that remain obstacles to the world's most powerful economy.
Kennedy — the nephew of John F. Kennedy (assassinated in 1963) and the son of Robert Kennedy (also shot in 1968) — has been the face of numerous provocations over the past few years. For one, he is a fierce critic of the COVID-19 vaccination program and an opponent of nuclear energy.
He recently claimed that the Federal Reserve, in collaboration with various banking institutions, printed a large amount of money between 2008 and 2022. In his opinion, this policy could create additional financial imbalances in the future and pointed to Bitcoin as an asset that could serve as a lifeboat for Americans:
“When this bubble invariably bursts, cryptocurrencies like Bitcoin offer the public an escape route from the splash zone. Thus, the White House is colluding with the bankers to keep us all trapped in a bubble of profiteering and control.”
Kennedy also believes that current President Joe Biden has "weaponized" the Department of Justice, the Federal Deposit Insurance Corporation, and other agencies, forcing some banks to stop doing business with crypto organizations by the end of 2022.
Recall that the United States recently witnessed the collapse of the famous Silicon Valley Bank (SVB), Silvergate Capital and Signature Bank. All of them served numerous cryptocurrency clients and caused serious losses to investors.
What are his chances?
Despite being considered an underdog, many experts believe that Kennedy's nephew could win next year's election. One of his supporters, Ross Elakman, believes that he is the right choice for the United States, describing Biden and Trump as "ineffective":
“Biden has been incompetent, Trump has been incompetent, and this guy is telling the truth.”
Research conducted shortly after Kennedy unveiled his plans to run for president estimated that he had the support of 14% of people who supported Joe Biden in 2020. Moreover, only 67% would vote for the incumbent president in 2024.
It is worth noting that Kennedy would not be the first political president in the world to support Bitcoin (if he wins the election). A notable example is Salvadoran President Nayib Bukele, whose government declared the asset legal tender in 2021.
Under his rule, the government purchased Bitcoin at a macroeconomic level and announced numerous initiatives involving Bitcoin.
