Amid ongoing de-dollarization efforts by the BRICS alliance, US Presidential Candidate Robert F Kennedy Jr says that Bitcoin is the only way to save the US Dollar. RFK Jr was an attendee at the 2024 Bitcoin conference in Nashville this past week and further shared his support for the world of cryptocurrency.
In an interview with Cointelegraph, the presidential candidate reassured his support for BTC, saying “I have most of my wealth in Bitcoin. I am fully committed.” As the US dollar faces significant internal and external pressure from forces like BRICS, Robert F Kennedy Jr. said that Bitcoin could provide safety for the greenback. “I think now it’s past the point where it’s inevitable. And now, we need to move as a country that’s able to get some control over Bitcoin as part of a reserve.”
The Bitcoin token can be a savior or further disciplinary for the US dollar depending on how the United States treats it. There are talks of the country sending all of its current seized BTC from the Department of Justice to the Department of the Treasury, making it a national reserve currency. This could give the greenback a much-needed safety net in the face of a battle with BRICS.
Also Read: BRICS: As US Dollar Falls, Can Bitcoin Become a Global Reserve Currency
Bitcoin’s Importance In Fight For US Dollar Against BRICS
In a post to X back in March, RFK Jr. called cryptocurrency the “best hedge against inflation.” He discussed the importance of the freedom that the market can bring average Americans. Furthermore, he explained its importance in taking control away from traditional banking entities. In a turbulent economy, BTC can be an alternative to the US dollar and other Fiat currencies.
On the other hand, the BRICS bloc may also seek out Bitcoin in its fight against the US Dollar. The last several years have seen the BRICS bloc embrace de-dollarization on a global scale. The grouping has not been shy about its stance on the Western currency. They have continually struck deals that promote the use of native assets to curtail the prominence of the greenback. While one of its leaders, China, is a strong opposer of digital assets, other BRICS nations are welcome to crypto and Bitcoin mining, including Russia. Therefore, Bitcoin can turn out to be a savior for the US dollar or a catalyst for its demise.