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Robert F. Kennedy Jr. all set to receive donations in Bitcoin amid presidential campaign

Robert F. Kennedy Jr., the nephew of 35th U.S. President John F. Kennedy, will soon become the very first presidential contender in American history to receive donations in Bitcoin.

Kennedy Jr. unveiled a Bitcoin donation drive during his debut appearance as a presidential candidate at the Bitcoin 2023 event. During the occasion, Kennedy Jr. hailed Bitcoin, calling it a “symbol of democracy and freedom.”

Robert F. Kennedy Jr. in the Bitcoin 2023 event stated that “Today, we demonstrate to the world the strength, dependability, and adaptability of Bitcoin. In this gathering, nearly everyone is aware of the connection between Bitcoin and freedom and democracy. They are impassioned because this invention holds up the hope that it will maintain the values of liberty and democracy, which we all deeply desire.”

The presidential contender who is standing against President Joe Biden has been tweeting about his libertarian opinions on cryptocurrency. 

RFK Jr. said in a post on May 3 that “crypto innovations are an important innovation engine,” stressing that the U.S. is hindering the sector and pushing “technology away.” 

In addition to votes, RFK Jr. is aiming for several million dollars in donations by going to the Bitcoin event. Sam Bankman-Fried, the former CEO of the now-insolvent cryptocurrency exchange FTX, gave $40 million to politicians during the midterm elections that took place last year. 

Coinbase, a cryptocurrency exchange, has also been aggressively advocating for regulations governing the nation’s crypto industry.

The rising interest in digital currencies by RFK Jr. comes at a time when U.S. regulations are rigorous, which causes confusion among participants and hurts an already struggling sector.

The Kennedy Jr. thinks that a diversified network of currencies would make the American economy more resolute:

“Our economy will be more robust if it has a rich ecology of crypto assets, not just a single, centrally controlled one, much like a biodiverse environment is a resilient ecosystem. Currently, we are witnessing the fragility of our centralized system too.”

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