US presidential candidate Robert F. Kennedy Jr. Unveils Ambitious Plans for Bitcoin He has promised to implement these schemes on day one if elected. Kennedy, who is running as an independent, wants to take the US government in a new direction with Bitcoin as a strategic national asset.
Robert F. Kennedy Jr. and his plans with Bitcoin
Kennedy’s first step is for the US government to transfer approximately 200,000 bitcoins to the Treasury Department. This should make Bitcoin a strategic asset for the United States, marking a major shift in how digital currencies are viewed by the government.
At the Bitcoin 2024 event in Nashville, Kennedy talked about his second project. He wants a finance ministry Buy 550 Bitcoin daily Until the national reserve reaches 4 million BTC. Since there will only be 21 million bitcoins in total, this would give the US 19% of the global bitcoin supply.
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This is comparable to the United States’ current share of global gold reserves. Kennedy believes the move could increase bitcoin’s value to hundreds of trillions of dollars.
Kennedy wants to introduce a rule that would make all transactions between bitcoin and the US dollar tax-free. This will make it much easier to use Bitcoin for everyday payments, allowing more people to use Bitcoin without additional fees.
Bitcoin and American Politics
Kennedy’s plans come at a time when cryptocurrency is becoming increasingly important in American politics. According to a recent Reuters/Ipsos poll, Kennedy is trailing Vice President Kamala Harris and former President Donald Trump. In a hypothetical election, Harris would get 42% of the vote, Trump 38% and Kennedy 8%.
Republican Party Backs Crypto Companies and Investors in 2024 Election Manifesto
At the same time, Harris’ team reached out to the crypto community and endorsed Harris as the Democratic candidate following President Joe Biden’s announcement that he would not seek re-election.
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