US Presidential candidate Robert F. Kennedy Jr has recently made a bold statement about Bitcoin, the leading cryptocurrency that has been gaining popularity and value in the past decade. In an interview with CNBC, Kennedy said that Bitcoin is “a huge threat to the economic model of big bankers” who have been exploiting the masses with their centralized and corrupt financial system.
Kennedy explained that Bitcoin is a decentralized and peer-to-peer digital currency that does not rely on any intermediary or authority to validate transactions or issue new coins. Unlike fiat money, which can be manipulated and inflated by governments and central banks, Bitcoin has a fixed supply of 21 million coins that are distributed according to a transparent and immutable algorithm.
Kennedy argued that Bitcoin empowers people to have more control over their own money and to participate in a global and inclusive economy that is not dominated by a few elites. He said that Bitcoin is a revolutionary technology that challenges the status quo and offers a more democratic and fairer alternative to the current system.
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Kennedy also expressed his support for the Bitcoin community, which he described as a diverse and vibrant network of innovators, entrepreneurs, activists, and enthusiasts who are working together to improve the technology and spread its adoption. He said that he admires the vision and values of the Bitcoiners, who are driven by a common goal of creating a more open and free society.
Bitcoin is “a huge threat to the economic model of big bankers’’.
The limited supply of Bitcoin makes it deflationary, meaning that its value tends to increase over time, as opposed to inflationary currencies that lose value due to excessive printing. This gives Bitcoin an advantage over fiat currencies, which are subject to manipulation and devaluation by central banks and governments. Bitcoin holders can preserve their purchasing power and avoid the negative effects of inflation.
Another advantage of Bitcoin is that it is censorship-resistant, meaning that no one can stop or censor Bitcoin transactions. This gives Bitcoin users more freedom and privacy than traditional payment systems, which are often subject to surveillance, regulation, and interference by third parties. Bitcoin users can transact with anyone in the world, without having to worry about borders, intermediaries, or restrictions. Bitcoin users can also choose their own level of security and anonymity, depending on how they store and use their Bitcoins.
These features of Bitcoin make it a huge threat to the economic model of big bankers, who rely on controlling the money supply and intermediating financial transactions. Big bankers benefit from creating money out of thin air, charging fees for their services, and influencing monetary policy and regulations. Big bankers also have access to privileged information and resources, which give them an unfair advantage over ordinary people.
Bitcoin challenges this model by offering an alternative way of creating and using money, one that is more democratic, transparent, and fair. Bitcoin empowers people to be their own bank, to have more control over their money, and to participate in a global and open financial system. Bitcoin also creates more competition and innovation in the financial sector, by enabling new business models and services that are not possible with traditional payment systems.
Bitcoin is not without its challenges and risks, however. Bitcoin faces technical issues such as scalability, security, and usability, which need to be addressed and improved. Bitcoin also faces regulatory issues such as legal uncertainty, taxation, and compliance, which vary across different jurisdictions and may affect its adoption and acceptance. Bitcoin also faces social issues such as education, awareness, and adoption barriers, which need to be overcome to increase its mainstream appeal.
Despite these challenges and risks, Bitcoin has proven to be resilient and adaptable over its 14 years of existence. Bitcoin has survived multiple attacks, forks, hacks, crashes, and controversies, and has emerged stronger and more valuable than ever. Bitcoin has also attracted a diverse and passionate community of users, developers, investors, entrepreneurs, activists, and enthusiasts, who support its vision and mission.
Bitcoin is “a huge threat to the economic model of big bankers”, but it is also “a huge opportunity for the economic empowerment of ordinary people”. Bitcoin represents a paradigm shift in the way we think about and use money, one that has profound implications for the future of money and society.
Kennedy concluded his interview by saying that he believes that Bitcoin is the future of money and that he will do everything in his power to protect and promote it if he becomes the next president of the United States. He said that he wants to make America a leader in the Bitcoin space and to foster a friendly and supportive environment for its development and innovation.