- In an interview, presidential candidate Kennedy stated his intention to “end the current White House’s war on Bitcoin
- Interestingly, Kennedy is not only a Bitcoin advocate but also an investor in the token, with holdings of up to $250,000 in BTC.
- In July, he expressed his plans to back BTC with the U.S. dollar and make BTC conversions into USD tax-exempt under his administration.
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U.S. presidential candidate Robert F. Kennedy Jr., continuing his support for Bitcoin, has revealed his goals and intentions for BTC in the future.
What Does Presidential Candidate Kennedy Aim to Achieve with Bitcoin?
Bitcoin supporter and U.S. presidential candidate Robert F. Kennedy Jr., who has previously advocated for the leading cryptocurrency BTC on various occasions, is now pledging to “end the current White House’s war on Bitcoin” in an interview. This statement appears to reference the government’s anti-crypto stance concerning Bitcoin and other cryptocurrencies.
Public perception suggests that the government is pressuring the crypto industry and stakeholders instead of promoting cryptocurrencies. However, Kennedy intends to change this and create an environment where people can protect their wallets (their self-preservation) and ensure the security of transactions, which may encourage the use of Bitcoin and other cryptocurrencies.
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Interestingly, Kennedy is not just a Bitcoin advocate but also an investor in the token, with holdings of up to $250,000 in BTC. He also facilitates others’ entry into the leading cryptocurrency, as he stated in July that he purchased two BTC for each of his seven children.
Additionally, besides ending the White House’s war on Bitcoin, the presidential candidate wants Bitcoin (and possibly other cryptocurrencies) to be recognized as money rather than a commodity. This would exempt Bitcoin from capital gains taxes, as cryptocurrencies primarily considered property or investments are usually subject to taxation on gains from sales.
This is not the first time Kennedy has made such a claim. In July, he stated his plans to back BTC with the U.S. dollar and make BTC conversions into USD tax-exempt under his administration.
Crypto and Politics
Cryptocurrencies have taken center stage ahead of next year’s presidential elections. Notably, Kennedy is not the only candidate to reveal plans to halt the “war” on Bitcoin.
Republican presidential candidate Ron DeSantis has pledged to protect people’s right to own cryptocurrencies and, if elected, end the “Bitcoin war” started by Biden’s administration. He argued that the current administration viewed cryptocurrencies as a “threat” due to their decentralized nature.
While these candidates continue to court the growing pro-crypto American voter base, many may remain skeptical, fearing that these candidates are merely pandering to this specific voter group without any real intention of implementing crypto-friendly policies. However, a former SEC lawyer hinted that crypto regulation in the country could indeed be political and implied that the chances of a Republican candidate winning next year are higher.