US Presidential Candidate Stands Up To Protect Bitcoin
Vivek Ramaswamy, the US presidential candidate, decided to stand up to protect Bitcoin, saying that the government is “threatened by the existence of Bitcoin.” He said if the cryptocurrency gains more popularity, it would be “a threat to the incumbent status of the US Federal Reserve itself.” He has assured to ensure the government is “staying the heck out of the business of those who are innovating” if elected president.
"Government Threatened by the Existence of Bitcoin," Says Vivek Ramaswamy
The US presidential candidate Vivek Ramaswamy recently revealed his crypto policy framework in an interview with Natalie Brunell, including Bitcoin among other topics, published this week.
“My view on the promise of Bitcoin is an opt-out from the broken financial architecture created by the US Federal Reserve System,” he began. He intends to “fight for the dollar to remain the reserve currency of the world.” Ramaswamy explained that there are two ways of doing it. “One is that if you are insecure about your value proposition, you may try to finish the competition.” He added:
"I look at it the other way. I think the existence of Bitcoin holds the dollar’s feet to the fire to make sure that it can’t be manipulated in a way that people don’t just opt out and go in the other direction."
“My view is that I’m against corporatism, which is the merger of state power and private power to together coordinate and do what can’t be done,” he said. “I, instead, have a different vision, which is that the government should get the hell out of the hair of Bitcoiners.” He added, “It’s not how we integrate. It’s how you realize the initial promise of being an alternative Wild West that’s a true frontier for pioneers and explorers without being constrained.”
Ramaswamy continued: “Look at the Biden administration’s differential rules or regulations or proposed regulations from an energy perspective.” He said a lot of activities related to “the climate change agenda” have “nothing to do with energy.”
He cautioned: “That’s just the excuse they are using. Part of this is that they want to create a surveillance state so that they can monitor how you are using your energy. If they can monitor that, they can monitor anything.” Ramaswamy stated:
"They’re threatened by the existence of Bitcoin. They don’t want people mining for more Bitcoin because that would make it more popular, which in turn, you know, creates a threat to the incumbent status of the US Federal Reserve itself."
Presidential Hopeful Wants Government to Stay Away
The presidential hopeful said the US government should stay away, stating, “I would say this to the Bitcoiners out there in the entire community. Be very wary of saying, ‘Hey, what can the government do to help us?’ No! Keep the government the hell away from whatever it is you want to do; that’s a good thing.”
He added, “I think it is good to decentralize power away from the federal government. That’s what the founding fathers envisioned,” explaining:
"My job should be to make sure the government is staying the heck out of the business of those who are innovating and pioneering in different spheres in their own right, the financial system included… I think that what we need is true competition where the government stays the heck out of the way."
“That’s the way I look at this rather than saying, ‘Hey, how do we all work together to create a vision of the great reset where we dissolve the boundaries between the public and private sector to have a hunky-dory vision for the future of humanity,'” he concluded.
What is your take on the statements by US presidential candidate Vivek Ramaswamy about Bitcoin and the government’s role in crypto regulation? Please share your thoughts and opinions in the comments section below.
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