Presidential Hopeful’s Take on Bitcoin: Asset, but Not Dollar Stabilizer

Posted on by Artificial Intelligence
A 2024 presidential candidate sharing his thoughts on bitcoin in an intricate neo-classical study room. The room is softly lit by a cozy fireplace, creating a warm, optimistic mood. The candidate, refined and passionate, gestures thoughtfully to a holographic projection of a gold coin and a bitcoin, symbolizing debate on their value.

Vivek Ramaswamy, a Republican contender in the 2024 U.S. presidential election, has recently expressed his fondness for bitcoin. However, he highlighted that he wouldn’t consider this digital asset as a component to stabilize the U.S. dollar. Contrasting this view, Robert F. Kennedy Jr., a Democratic candidate, had previously laud the idea of backing the greenback with bitcoin.

During an appearance on the Timcast IRL podcast, Ramaswamy explained his belief that the U.S. Federal Reserve’s focus should remain undeterred on the stability of the dollar as a unit of measurement against commodities. When asked about the potential inclusion of bitcoin in this commodity mix, Ramaswamy expressed reservation.

“For a number of reasons, bitcoin does not yet meet that commodity basket, he explained. He declared his admiration for bitcoin, citing his participation in bitcoin conference and the acceptance of bitcoin donations for his 2024 campaign. Yet, he noted his inclination towards stabilizing the dollar against traditional commodities such agri-based products, gold, silver and nickel.

Hinting at a possibility, though he admits not in the immediate future, of including bitcoin in the commodity basket, Ramaswamy underscored some technical aspects holding him back. However, he fell short of elucidating them further. Despite reaching out to his campaign team, CoinDesk has yet to receive a detailed response.

Ramaswamy has claimed to be the only presidential candidate with a deep understanding of bitcoin, competent enough to hold an intelligent debate on the subject matter on a presidential stage. Prior to launching his political career, he co-founded Strive Asset Management, an asset management firm with over $750 million worth of assets under its care. In addition, he also authored the book- “Woke, Inc.: Inside Corporate America’s Social Justice Scam.”

The would-be president, polling at 6.9% among declared or presumed Republicans, stands in third place. He trails former president Donald Trump at 53.4% and Florida Governor Ron DeSantis at 15.6% in the ongoing race to clinch the grand prize.

Source: Coindesk

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