Pro-crypto candidate Robert F. Kennedy Jr., commonly known as RFK Jr., made a significant announcement on October 9th during a rally in Philadelphia. He revealed that he was withdrawing his bid for nomination in the Democratic primary and instead running as an independent candidate for the United States presidency.
Kennedy has been a strong advocate for cryptocurrency, particularly Bitcoin, and he has expressed his desire to make America the global hub of cryptocurrency. In July, he outlined plans to back the US dollar with “hard currency,” including Bitcoin.
Additionally, Kennedy has been a vocal critic of the Federal Reserve’s FedNow instant payment system, equating it with a central bank digital currency (CBDC). He expressed concerns about the potential dangers and implications of CBDCs, stating that they could lead to financial slavery and political tyranny. This led to the US Federal Reserve Board launching a public-awareness campaign to clarify the distinction between FedNow and CBDC.
Kennedy’s decision to run as an independent candidate came after several days of teasers. A super PAC called American Values 2024, which supports him, released polling results on October 2nd, claiming that he would be the strongest independent candidate in US election history with the support of 19% of the electorate. This is compared to 38% support for President Joe Biden and former President Donald Trump.
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While the Kennedy name has long been associated with the Democratic Party, RFK Jr.’s divergence from the party mainstream on various issues, such as vaccines, has alienated him from the party and even his own family.
Interestingly, Kennedy’s views on cryptocurrency align with those of Republican presidential contender and Florida Governor Ron DeSantis. Both Kennedy and DeSantis oppose FedNow and CBDC and support Bitcoin. However, DeSantis is currently running behind Trump in polls for the Republican primary nomination.
With Biden and Trump leading the polls for the two major parties, there is a possibility that the next US president may not be crypto-friendly and may even support CBDCs. This is despite suggestions within the industry that crypto may be a decisive issue for voters in the 2024 presidential election.
The 2024 presidential race has seen numerous independent candidates declare their candidacy, but only a few have gained significant attention. Marianne Williamson is now the sole remaining Democratic Party challenger to Biden.
In summary, RFK Jr.’s decision to run as an independent candidate for the US presidency has significant implications for the crypto industry. Kennedy’s pro-crypto stance and plans to make America the global hub of cryptocurrency set him apart from other candidates. However, with both major party candidates leading in the polls, the crypto industry must carefully consider the potential consequences of a crypto-opponent president.
