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. Chatting with a cheering crowd, Kennedy outlined his daring plan to combine Bitcoin into the nationwide economic system.
“I’ll signal an govt order directing the U.S. Treasury to buy 550 Bitcoin every day till the U.S. amasses a reserve of at the least 4 million,” Kennedy declared. This may signify almost 20% of the overall Bitcoin provide.
Kennedy additionally mentioned he would switch the 204,000 Bitcoin presently 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 a whole lot of trillions of {dollars}.”
He praised Bitcoin as “the forex of hope” and a technique 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 remove incentives for navy battle.
Whereas Kennedy just isn’t doing very effectively in early polls, his full-throated embrace of Bitcoin may assist him acquire traction with libertarian-leaning voters. He railed towards 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 turning into a scorching matter within the 2024 race, Kennedy is clearly making an attempt to grab the mantle as essentially the most Bitcoin-friendly candidate. His name for a large 4 million bitcoin reserve exhibits he’s keen to stake out daring positions to draw the rising Bitcoin voter bloc.