U.S. presidential candidate Vivek Ramaswamy says the government is “threatened by the existence of Bitcoin,” emphasizing that if the cryptocurrency becomes more popular, it would create “a threat to the incumbent status of the U.S. Federal Reserve itself.” He promised to ensure the government is “staying the heck out of the business of those who are innovating” if he’s elected president.
Vivek Ramaswamy: Government Threatened by the Existence of Bitcoin
U.S. presidential candidate Vivek Ramaswamy discussed a number of topics, including Bitcoin, in an interview with Natalie Brunell, published this week. He also recently revealed his crypto policy framework.
“My view on the promise of Bitcoin … is an opt-out from the broken financial architecture created by the U.S. Federal Reserve System,” he began. While emphasizing that he wants to “fight for the dollar to remain the reserve currency of the world,” Ramaswamy stressed that there are two ways of doing it. “One is if you are really insecure about your own value proposition, you may try to smash out the competition,” he said, adding:
I look at it the other way. I think the existence of Bitcoin hold 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 to the other direction.
“My view is 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 detailed. “I, instead, have a different vision, which is the government should get the hell out of the hair of Bitcoiners.” He emphasized: “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 continued: “Look at the Biden administration’s differential rules or regulations or proposed regulations from an energy perspective.” He explained that a lot of activities related to “the climate change agenda” have “nothing to do with the energy.”
He warned: “That’s just the excuse they are using. Part of this is they want to create a surveillance state … to be able to monitor how you are using your energy. If they can monitor that, they can monitor anything.” Moreover, Ramaswamy stated:
They’re threatened by the existence of Bitcoin. They don’t want people mining for more bitcoin because that would make Bitcoin more popular which in turn you know creates a threat to the incumbent status of the U.S. Federal Reserve itself.
We Need ‘True Competition Where Government Stays the Heck out of the Way’
Emphasizing that the job of the U.S. government is to stay away, the presidential hopeful detailed: “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,” elaborating:
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.
“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 do you think about the statements by U.S. presidential candidate Vivek Ramaswamy about bitcoin and the government’s role in crypto regulation? Let us know in the comments section below.