Presidential Candidate Vivek Ramaswamy: Fed is Afraid of BTC

Presidential Candidate Vivek Ramaswamy cover

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Anisha Pandey

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U.S. presidential candidate Vivek Ramaswamy, continues to support Bitcoin via his campaign and has vowed to protect the digital asset from the United States government. The American entrepreneur and millionaire claims that U.S. authorities are “threatened by the existence of Bitcoin.”

In an interview with TheStreet’s Natalie Brunell on November 16, the presidential candidate stated that if Bitcoin becomes more popular, it would create “a threat to the incumbent status of the US Federal Reserve itself” while adding that if he is elected president, his government plans on “staying the heck out of the business of those who are innovating.”

Related reading: US Senators Worried About Bitcoin Adoption In El Salvador

Presidential Candidate Vivek Ramaswamy: BTC is a Threat to the Fed

“My view on the promise of bitcoin … is an opt-out from the broken financial architecture created by the US Federal Reserve System,” Ramaswamy said while noting that he wants to “fight for the dollar to remain the reserve currency of the world.” According to the businessman, there are two ways of keeping the dollar’s value: “One is if you are really insecure about your own value proposition, you may try to smash out the competition,” he said while adding:

“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.”

Ramaswamy stated that he is “against corporatism,” which he describes as “the merger of state power and private power to together coordinate and do what can’t be done.” The candidate believes that the U.S. government “should get the hell out of the hair of bitcoiners.” He added:

“It’s not how do we integrate. It’s how do you actually realize the initial promise of being an alternative Wild West that’s a true frontier for pioneers and explorers without being constrained.”

Ramaswamy had a message for the entire Bitcoin community. He asked the community to refrain from asking for help from lawmakers and to decentralize power away from the federal government.” He noted that it is a good thing if the government stays out of the way of bitcoiners. He emphasized:

“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, financial system included … I actually think that what we need is true competition where the government stays the heck out of the way.”

Robert F. Kennedy Jr. on Bitcoin

Interestingly, another prominent presidential candidate, Robert F. Kennedy Jr., revealed that he held bitcoin worth $100,000–$250,000. During a special appearance at the Bitcoin Conference in Miami in May, the candidate confirmed that he would also accept donations for his campaign in BTC.

Kennedy’s disclosure from June also confirms his investment in bitcoin. While speaking at the North American Blockchain Summit, Kennedy confirmed that his personal investment in BTC inspired him to promote the digital asset.

Related reading: 3 Presidential Candidates For 2024 Openly Support Bitcoin

“I really started investigating bitcoin and the more that I learned about it, the more I fell in love with it and fell in love with the community,” Kennedy said. “It’s democracy. It’s a guarantee of democracy, that decentralization.” The Republican candidate also stated that bitcoin is a “guarantee of democracy,” while further claiming that BTC can prove extremely beneficial in times of debanking in an interview with Fred Thiel, CEO of Marathon Digital. 

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