Bitcoin and Kennedy, Robert F. Jr.
Robert F. Kennedy Jr., a U.S. Democratic presidential candidate has once more jumped to defend Bitcoin, supporting claims claiming the environmental impact of the greatest cryptocurrency in the world isn’t nearly as harmful as it is reputed to be. RFK Jr. commented on a recent Twitter thread by Sangha Mechanisms director Daniel Feldman in which Feldman argued that Bitcoin mining and renewable energy production have a “symbiotic relationship” in which both “solves problems and improves the other.”
Kennedy has gained the backing of many extreme supporters of Bitcoin recently, despite the fact that his chances of obtaining the party’s nomination aren’t great, bookmakers gave him odds of approximately 11% earlier this month. During his keynote speech at bitcoins 2023 in Miami in May, the 69-year-old lawmakers praised Bitcoin and claimed that the Canadian government’s decision to crack down on truck drivers who criticized COVID-19 restrictions at its inception of 2022 by freezing their bank accounts gave him an understanding of its value.
Sangha Systems, a multifaceted company, apparently runs its “resilience token” in partnership with Aon Insurance and has established a Bitcoin mining operation in Illinois named 82 River North. “At all times, the sustainability argument ought to be used as a smokescreen to curtail freedoms to transact,” he continued. Feldman underlined that, in contrast to claims made by the mainstream media, Bitcoin mining is “a way that will enhance the electric network and reduce our dependence on fossil fuels” as he listed a number of purported benefits it is said to have for the economy.
He stated that the issue is that the majority of renewable energy facilities require government subsidies in order to be successful. Feldman continues by stating that “the usual regards of climate argument must turn away from separation and towards innovation,” which is particularly pertinent in light of the fact that “green energy shareholder concentration frequently is not power sales but is rather the constructed / creative financial manipulation that goes into optimizing tax credits.”