The importance of the freedom to transact is gaining attention as it is equated to freedom of expression, according to Democratic presidential candidate Robert F. Kennedy Jr. Speaking at the Bitcoin 2023 conference in Miami, Kennedy shared his insights into the world of Bitcoin and how the COVID-19 pandemic played a critical role in shaping his perspective.
It was Canada’s response to truck drivers protesting COVID-19 restrictions, specifically freezing their bank accounts, that led Kennedy to appreciate the value of Bitcoin. He emphasized that free money was as vital to freedom as free expression. As an outspoken critic of vaccine mandates, Kennedy believes supporting Bitcoin acts as an exercise and guarantee of the civil liberties he vows to protect.
According to Kennedy, Bitcoin is a bulwark against government and corporate expansion and intrusion, as exemplified by the Canadian truckers’ situation. He pledges to uphold the rights of citizens to hold and use Bitcoin if elected as president. Contrasting President Biden’s administration, Kennedy focused on Biden’s proposed 30% excise tax on cryptocurrency miners. Kennedy argues this would necessitate an invasive surveillance apparatus to monitor individual computers, setting a harmful precedent.
While Kennedy advocates for Bitcoin, he’s not the only one questioning Biden’s proposed miner tax. Sen. Cynthia Lummis (R-WY), a leading advocate for Bitcoin on Capitol Hill, also expressed her concerns about the legislative landscape surrounding Bitcoin. During a fireside chat at the conference, she emphasized that Bitcoin aligns with American values and should be protected, nurtured, and allowed to innovate within the United States. Her remarks were met with applause from the audience.
Interestingly, Rep. Patrick McHenry (R-NC), who chairs the House Financial Services Committee, was unable to attend the conference due to ongoing debt ceiling negotiations. Walker Van Dixhorn, a YouTuber focused on cryptocurrency, introduced Lummis and pointed out how “fiat problems” prevented McHenry’s participation.
The growing interest in Bitcoin and its potential as a tool for freedom has brought the issue of governmental control over financial systems into the spotlight. As more political figures voice their support for the cryptocurrency, it’s critical to explore both the long-term benefits and potential risks associated with its adoption. Balancing the importance of freedoms and regulation will be crucial moving forward in the ever-evolving crypto landscape.