Robert F. Kennedy Jr.’s Love Letter to Bitcoin
U.S. Presidential candidate Robert F. Kennedy Jr. announced his support for Bitcoin at the Bitcoin Magazine 2023 Miami conference.
Within less than a minute from starting his speech, Kennedy went straight to the point of why he supports Bitcoin:
David Bailey (Bitcoin Magazine CEO) … asked me how I got sold on Bitcoin … and I told him it happened to me in an instant when I saw what happened at the truckers strike in Ottawa.
The government froze the bank accounts of hundreds of protesters and their supporters.
As people know, that was a peaceful demonstration but the Canadian government fiercely repressed the truckers' protest.
When I witnessed this cataclysm, this devastating use of government repression, I realized for the first time how free money is as important to freedom as free expression.
In a brilliant speech to a packed convention, Kennedy never equivocated about his support for Bitcoin.
Kennedy Is a Technically Savvy Bitcoiner
Unlike many politicians, Kennedy consistently surprises with his in-depth knowledge of how Bitcoin works.
When announcing that his campaign is the first presidential campaign to accept Bitcoin donations, Kennedy is careful to say “Bitcoin donations through the lightning network” not just Bitcoin donations.
Kennedy understands the importance of the lightning network and said to JAN3 CEO Samson Mow:
Lightning opens up an exciting future with the guarantee of transactional freedom which is as important as freedom of speech. Thanks for supporting this initiative Samson.
As a longtime environmentalist and environmental lawyer, Kennedy is well aware of the technical issues surrounding energy and Bitcoin mining. He acknowledges that the environmental criticism of mining has been exaggerated.
He explained that to be economical, miners chase the cheapest electricity and often use power to help stabilize the grid, drawing lots of idle base load.
"Environmental criticism should not be used as a smokescreen or pretext for suppressing Bitcoin," Kennedy adds.
He also understands how mining works to stabilize the grid by stating "this is the kind of innovation our country needs now," he says.
Robert F. Kennedy Jr. with Bitcoin Magazine CEO David Bailey at the May 2023 Bitcoin Magazine conference in Miami
Understanding What Bitcoiners Want To Hear
Not only was Kennedy well informed, but he also had a straightforward style that made him sound less like a traditional politician than other candidates. Despite a shaky voice caused by a speech defect, which Jack Dorsey (who has endorsed Kennedy) says gives him more power, he communicated effectively.
To an enthusiastic audience, Kennedy pledged the following saying “the right to hold and use Bitcoin is inviolable.”
Understanding that Bitcoin is in a class of its own, he explained; “I recognize that Bitcoin is not a security and shouldn’t be regulated as such. KYC should be applied at the institutional level, not at the level of nodes.”
Other commitments from Kennedy include:
- Upholding the right to run a node at home.
- Defending industry neutral regulation of energy.
- Making sure that the U.S. remains the global hub of Bitcoin and other cryptocurrencies to keep innovation at home.
- Reversing the current government’s hostility to Bitcoin and keep innovation at home.
- Consulting with Bitcoiners to establish sensible jurisdiction and governance.
- Carefully considering whether individuals like Ross Ulbrecht are being used to discredit Bitcoin and consider pardoning as soon as possible.