Presidential Hopeful RFK Jr. Stumps for Bitcoin

Robert F. Kennedy Jr., who is running for president on the Democratic ticket, has once more voiced his support for Bitcoin. He refuted claims about the cryptocurrency’s detrimental environmental impact, suggesting they are overstated.

Reacting to a recent Twitter thread by Daniel Feldman, director of Sangha Systems, Kennedy found the discussion about a mutually beneficial relationship between Bitcoin mining and renewable energy compelling. Feldman argued that this symbiosis “solves problems and enhances both parties.”

Sangha Systems, a diversified company, has established a Bitcoin mining firm named 82 River North in Illinois and purportedly operates the “resilience token” in partnership with Aon Insurance.

Kennedy added that environmental concerns should not be used as a cover-up to restrict the freedom of transactions.

Feldman enumerated numerous alleged economic benefits of Bitcoin mining. He insisted that it is a means to upgrade the electrical grid and reduce dependence on fossil fuels, contrary to widespread media narratives. According to him, most renewable energy sites are not profitable without government subsidies.

Furthermore, Feldman stressed that the climate change debate needs to shift from polarization towards innovation, particularly when green energy investors are more interested in creative financial engineering to maximize tax credits rather than energy sales.

He criticized the flow of these tax credits, controlled by the same large banks that receive bailout money in financial crises. Feldman suggests that Bitcoin could liberate us from these institutions. He added, “Bitcoin mining cultivates a global electricity market that will inspire investment in renewable energy projects, opening up a new revenue frontier.”

Even though Kennedy’s chances of securing the Democratic nomination are relatively slim, with his odds earlier this month hovering around 11%, he has nonetheless gained significant backing from Bitcoin enthusiasts.

The 69-year-old politician spoke highly of Bitcoin during his keynote speech at Bitcoin 2023 in Miami this past May. He credited the Canadian government’s decision to freeze the bank accounts of truck drivers protesting COVID-19 restrictions in early 2022 with helping him recognize Bitcoin’s potential.

Kennedy stated that supporting Bitcoin is both a “practice and assurance” of the civil liberties he is dedicated to safeguarding.

He later expressed his disdain for central bank digital currencies (CBDCs), characterizing them as “tools of control and oppression” prone to abuse.

Just last week, Kennedy revealed that he had purchased a total of 14 Bitcoin—two for each of his seven children.