Unbiased US presidential candidate Robert F. Kennedy Jr. made headlines on the Bitcoin 2024 convention by pledging to buy 4 million Bitcoins for the U.S. authorities if elected president. Talking to a cheering crowd, Kennedy outlined his daring plan to combine Bitcoin into the nationwide economic system.
“I’ll signal an government order directing the U.S. Treasury to buy 550 Bitcoin day by day till the U.S. amasses a reserve of a minimum of 4 million,” Kennedy declared. This might characterize almost 20% of the overall Bitcoin provide.
Kennedy additionally mentioned he would switch the 204,000 Bitcoin at the moment held by the federal government right into a Federal Reserve strategic reserve. He promised the cascading influence of those strikes would “successfully transfer Bitcoin to a valuation of a whole bunch of trillions of {dollars}.”
He praised Bitcoin as “the foreign money of hope” and a strategy to restore monetary stability after years of poor financial insurance policies. “Fiat foreign money was invented to fund the battle,” Kennedy mentioned, including {that a} Bitcoin normal would get rid of incentives for navy battle.
Whereas Kennedy shouldn’t be doing very effectively in early polls, his full-throated embrace of Bitcoin may assist him achieve traction with libertarian-leaning voters. He railed towards excessive inflation and shrinking buying energy, points he believes adopting a Bitcoin normal would deal with.
Kennedy additionally pledged to make Bitcoin transactions non-taxable and permit Bitcoin to be exchanged tax-free. He mentioned Bitcoin’s transparency makes it “the best foe of presidency corruption.”
With Bitcoin changing into a scorching matter within the 2024 race, Kennedy is clearly attempting to grab the mantle as probably the most Bitcoin-friendly candidate. His name for an enormous 4 million bitcoin reserve reveals he’s keen to stake out daring positions to draw the rising Bitcoin voter bloc.
