Twitter founder and current CEO of fintech firm Block Inc., Jack Dorsey has thrown his weight behind pro-crypto Democrat presidential candidate Robert F. Kennedy Jr. Dorsey shared a YouTube clip from Fox News, featuring Kennedy explaining how he plans to beat popular Republican presidential candidates Ron De Santis and Donald Trump. When a user asked if he was “endorsing or just predicting?” Kennedy, Dorsey replied with “both.”
Robert Kennedy, nephew of the United States’ 35th President John F. Kennedy, is an environmental lawyer and outspoken anti-vaccine advocate. Notably, he is also a strong supporter of cryptocurrencies. During a keynote speech at the Bitcoin Miami Conference, he announced that he would accept donations for his presidential campaign in Bitcoin. He has described the flagship cryptocurrency as an “innovation engine” and criticized Central Bank Digital Currencies (CBDCs) as tools that can “vastly magnify the government’s power to suffocate dissent by cutting off access to funds with a keystroke.”
On the other hand, Kennedy has condemned the Biden administration’s proposed tax on crypto mining. He called the proposed 30% tax on energy used by crypto miners “a bad idea” and claimed that while mining’s energy use was “a concern,” it is “somewhat overstated.”
According to a Fox News poll, Kennedy currently commands support from 16% of the Democratic primary voters, which is a sizable chunk for a primary challenger against an incumbent president.
However, there are also concerns regarding Kennedy’s anti-vaccine stance, which may not sit well with some voters, especially considering the ongoing COVID-19 pandemic.
In any case, as the presidential race heats up, it will be interesting to see how the crypto community responds to a candidate who is so openly supportive of digital currencies. No matter the outcome, this development is proof that cryptocurrencies have not only gained mainstream attention, but have also started to make their mark on the political stage. The future of crypto regulation, adoption, and its impact on the global economy could very well be influenced by the outcome of this election.