YEREVAN (CoinChapter.com) — Independent presidential candidate Robert F. Kennedy Jr. delivered a compelling speech at the Bitcoin 2024 event on July 26. He highlighted Bitcoin’s potential to revitalize the US economy and restore the American way of life. Kennedy outlined a series of executive orders he plans to sign on his first day in office.
Kennedy’s Strategic Bitcoin Reserve Plan for U.S. Financial Dominance
RFK Jr. plans to reclassify Bitcoin as a strategic asset. He intends to order the Justice Department and US Marshalls to transfer the 204,000 Bitcoins held by the United States to the Federal Reserve. This move would position the United States as a global leader in Bitcoin reserves. Kennedy envisions the US Bitcoin reserve reaching a value of “hundreds of trillions of dollars,” providing the country with an unmatched economic advantage.
Moreover, Kennedy aims to order the Treasury Department to purchase 500 Bitcoins daily until the reserve accumulates at least four million Bitcoins. He believes this strategic reserve would cement the United States’ dominance in the global financial landscape.
Kennedy’s Tax-Free Bitcoin Plan to Boost Investment
Robert F. Kennedy proposes to make all transactions between Bitcoin and the dollar nonreportable and nontaxable by the IRS. This executive order would exempt Bitcoin transactions from taxes, making them more attractive to businesses and individuals. Additionally, RFK Jr. plans to classify Bitcoin as eligible for exchange into real property under the 1031 Exchange program, which incentivizes real estate investments.
Bitcoin for National Security and Financial Stability
RFK Jr. sees Bitcoin as more than just an economic tool. He intends to hire Space Force Major Jason Lowery as a national security adviser. Lowery, known for his thesis at MIT, described Bitcoin as a “cyber-defense system” and a form of “soft power projection.”
RFK Jr. believes that Bitcoin can protect online identities in cyberspace and bolster national security.
To strengthen the dollar, Kennedy proposes backing US Treasury bills, notes, and bonds with hard assets, including precious metals and Bitcoin. He aims to curb inflation and usher in a new era of financial stability.
“The world will rush to back an American-backed decentralized currency,”
Kennedy asserted, envisioning a global shift towards a stronger, asset-backed dollar.
Robert F. Kennedy’s Bitcoin Vision: A Return to Stability and Peace
Robert F. Kennedy criticized the shift away from the gold standard under President Richard Nixon, which he believes led to economic instability.
“Fiat currency was invented to fund war,”
Kennedy remarked. He suggested that a Bitcoin standard would prevent wars since Bitcoin cannot be printed.
Robert F. Kennedy’s promises signal a potential transformation in how the United States handles its economy and national security. His vision for Bitcoin includes not only economic benefits but also a strategic asset for national security. Kennedy’s plans for a Bitcoin reserve and a hard asset-backed dollar could significantly impact the global financial system.
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