- Robert F. Kennedy Jr. plans for the U.S. government to acquire $615 billion in Bitcoin, equaling its gold reserves, to enhance financial transparency and democracy.
- Kennedy’s strategy includes eliminating capital gains taxes on Bitcoin and issuing Treasury bills backed by Bitcoin and other hard assets, potentially boosting the crypto market.
Following CNF’s earlier report highlighting Robert F. Kennedy Jr.’s strong opposition to CBDC implementation due to privacy risks, Kennedy’s recent statements strengthen his commitment, reflecting his views on Bitcoin as an “honest currency” that is decentralized and transparent, aligning with his vision for democracy.
In Kennedy’s words,
Bitcoin is an honest currency… Everything’s on the ledger, it’s decentralized, and that’s what we need to do with democracy.
Furthermore, in an ambitious move, the presidential candidate proposes that the U.S. government acquire enough Bitcoin to match its gold reserves, which are valued at $615 billion, as shared by Collin Brown in his tweet. This ambitious move would make the U.S. the world’s largest Bitcoin holder, transforming the crypto landscape and potentially creating substantial gains for crypto investors.
🚀💰 Robert F. Kennedy Jr. unveils a revolutionary plan: if elected, he aims to have the U.S. government acquire $615 billion worth of Bitcoin, aligning its reserves with the nation’s gold holdings. This bold move would position the U.S. as the world’s largest Bitcoin holder,… pic.twitter.com/IKcuSOIBix
— Collin Brown (@CollinBrownXRP) July 26, 2024
Kennedy’s ambitious plan, detailed in a CNF YouTube video, involves securing nearly 45% of the total Bitcoin supply—amounting to 9.4 million BTC. He sees Bitcoin as a transparent, decentralized currency vital for democracy.
He also proposes creating U.S. Treasury bills backed by hard assets like gold, silver, platinum, and Bitcoin, eventually anchoring them 100% to these assets.
To support the cryptocurrency industry in the U.S., Kennedy plans to eliminate capital gains taxes on BTC. He believes this is essential for decentralizing and protecting democracy.
At the time of writing, Bitcoin (BTC) is trading at a price of $67,272.56 with an increase of 4.88% in the past day and 4.96% in the past week. If implemented, Kennedy’s plan would make the U.S. the largest Bitcoin holder, far surpassing companies like MicroStrategy and BlackRock. This could drive Bitcoin’s price up significantly, creating more benefits for investors.
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