Impartial 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. Chatting with a cheering crowd, Kennedy outlined his daring plan to combine Bitcoin into the nationwide financial system.
“I’ll signal an government order directing the U.S. Treasury to buy 550 Bitcoin every day till the U.S. amasses a reserve of no less than 4 million,” Kennedy declared. This is able to signify almost 20% of the full 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 impression of those strikes would “successfully transfer Bitcoin to a valuation of tons of of trillions of {dollars}.”
He praised Bitcoin as “the forex of hope” and a option to restore monetary stability after years of poor financial insurance policies. “Fiat forex was invented to fund the conflict,” Kennedy mentioned, including {that a} Bitcoin normal would get rid of incentives for navy battle.
Whereas Kennedy just isn’t doing very properly in early polls, his full-throated embrace of Bitcoin may assist him achieve traction with libertarian-leaning voters. He railed in opposition to excessive inflation and shrinking buying energy, points he believes adopting a Bitcoin normal would handle.
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 sizzling matter within the 2024 race, Kennedy is clearly making an attempt to grab the mantle as probably the most Bitcoin-friendly candidate. His name for a large 4 million bitcoin reserve exhibits he’s prepared to stake out daring positions to draw the rising Bitcoin voter bloc.
