Robert Kennedy Jr., an American political figure, has praised bitcoin as a safe haven due to its decentralization, which makes it less vulnerable to the risks inherent in traditional finance.
In a recent tweet, Kennedy also brought up the FedNow platform, which allows for instant payments between US financial institutions.
While US officials have claimed that FedNow is not the first step towards a digital dollar, Kennedy remains skeptical due to the Biden administration’s perceived hostility towards cryptocurrencies.
Kennedy argues that the US Federal Reserve has printed approximately $10 trillion over the years in partnership with big banks, and that this has only benefited the “banksters.”
In contrast, Kennedy advocates for the use of bitcoin and other cryptocurrencies as alternatives to the traditional financial system.
He believes that the current “financial bubble” will eventually burst, and that cryptocurrencies will offer a “way of salvation” for society.
Due to their decentralized nature, crypto assets operate outside of the traditional financial system and are not subject to the same risks and vulnerabilities.
Moreover, cryptocurrencies are free from government influence, which can be abused with the help of central bank digital currencies.
Kennedy argues that cryptocurrencies such as bitcoin allow people to protect themselves from the fallout when the financial bubble inevitably bursts.
Recently, a bill was introduced in the US Congress to protect owners and miners of bitcoin from unjustified confiscation of their crypto assets.
US Senator Cynthia Lummis has also voiced her support for bitcoin, believing that it will help people save money in the face of rising inflation.