Presidential candidate Robert F. Kennedy Jr. has set his sights on a groundbreaking financial strategy if elected to office. In a recent interview at the Bitcoin Conference, Kennedy announced his plan to increase the US government’s Bitcoin holdings until they match the value of the country’s gold reserves.
Currently, the US holds approximately $615 billion worth of gold, totaling 8,134 tons. To reach this value in Bitcoin, the government would need to acquire around 9.4 million BTC at current prices, which represents nearly 45% of the total Bitcoin supply that will ever exist.
Kennedy’s vision goes beyond just acquiring Bitcoin. He aims to back government currency and debt with a mix of hard assets, including gold, silver, platinum, and BTC. He plans to introduce a new class of US Treasury bills that would be tied to these assets, starting with a 1% backing in the first year and gradually increasing to 100%.
Describing Bitcoin as an “honest currency” based on Proof-of-Work and decentralization, Kennedy believes that integrating it into the government’s financial strategy is crucial for the future of democracy.
If implemented, this policy would make the United States the largest holder of Bitcoin globally, surpassing even corporate giants like MicroStrategy. The potential $615 billion Bitcoin reserve could not only overshadow current holdings but also have a significant impact on Bitcoin prices, benefiting existing investors.
Kennedy’s unconventional approach to financial policy underscores the increasing influence of digital currencies in mainstream political discussions. As the crypto landscape continues to evolve, his proposal signals a new era of potential integration between traditional finance and the digital asset space.
