Independent US presidential candidate Robert F. Kennedy Jr. has set the cryptocurrency world abuzz with his ambitious plan to purchase 4 million Bitcoins for the U.S. government if elected president. At the Bitcoin 2024 conference, Kennedy captivated the audience with his vision of integrating Bitcoin into the national economy.
In a bold move, Kennedy announced that he would sign an executive order directing the U.S. Treasury to buy 550 Bitcoins daily until the government amasses a reserve of at least 4 million. This would represent a significant chunk of the total Bitcoin supply, nearly 20% to be exact.
Furthermore, Kennedy plans to transfer the 204,000 Bitcoins currently held by the government into a Federal Reserve strategic reserve. He believes that these actions will have a cascading effect, propelling Bitcoin to a valuation of hundreds of trillions of dollars.
Describing Bitcoin as “the currency of hope,” Kennedy emphasized its potential to restore financial stability after years of poor monetary policies. He criticized fiat currency as a tool for funding wars and argued that a Bitcoin standard would eliminate incentives for military conflict.
While Kennedy may not be leading in early polls, his strong support for Bitcoin could resonate with libertarian-leaning voters. He highlighted the issues of high inflation and shrinking purchasing power, which he believes a Bitcoin standard could address.
Kennedy also pledged to make Bitcoin transactions non-taxable and allow tax-free exchanges of the cryptocurrency. He praised Bitcoin’s transparency as a powerful tool against government corruption.
With Bitcoin emerging as a key topic in the 2024 presidential race, Kennedy is positioning himself as the most Bitcoin-friendly candidate. His proposal for a massive 4 million Bitcoin reserve demonstrates his willingness to take bold stances to attract the growing Bitcoin voter bloc.
