Robert F. Kennedy Jr. Unveils Strategic Bitcoin Reserve Plan to Restore American Economic Dominance

Independent presidential candidate Robert F. Kennedy Jr. delivered a compelling speech at the Bitcoin 2024 event on July 26.

Independent presidential candidate Robert F. Kennedy Jr. (RFK Jr.) took to the stage at the Bitcoin 2024 event on Friday, outlining a bold vision for integrating Bitcoin into the fabric of the United States economy and way of life.

Kennedy Jr. plans to sign a series of executive orders on his first day in office, with the aim of restoring the American way of life and positioning the country for long-term economic dominance.

Kennedy Jr.'s Strategic Bitcoin Reserve Plan for U.S. Financial Supremacy

Among his plans is a strategy to reclassify Bitcoin as a strategic asset. He intends to direct the Justice Department and U.S. Marshals to transfer the 204,000 Bitcoins (around $8.6 billion at current prices) held by the United States to the Federal Reserve. This move, according to Kennedy Jr., would propel the U.S. to become the world leader in Bitcoin reserves.

He envisions the U.S. Bitcoin reserve eventually reaching a value of “hundreds of trillions of dollars,” ultimately giving the country a massive economic advantage.

Furthermore, Kennedy Jr. aims to instruct the Treasury Department to purchase 500 Bitcoins daily until the reserve accumulates at least four million Bitcoins. He believes that this strategic reserve would solidify the United States's enduring dominance in the global financial landscape.

Kennedy Jr.'s Tax-Free Bitcoin Plan to Boost Investment, Real Estate

Robert F. Kennedy Jr. proposes to render all transactions between Bitcoin and the dollar nonreportable and nontaxable by the Internal Revenue Service (IRS). This executive order would shield Bitcoin transactions from being reported to the IRS and, crucially, would exempt them from being taxed by the agency.

The move is intended to make Bitcoin transactions more attractive to businesses and individuals, boosting investment and stimulating the economy. Additionally, RFK Jr. plans to classify Bitcoin as being eligible for exchange into real property under the 1031 Exchange program, which provides tax benefits for certain real estate investments.

Kennedy Jr. on Bitcoin for National Security, a Hard-Asset Backed Dollar

RFK Jr.'s vision for Bitcoin extends beyond its economic applications. He intends to appoint Space Force Major Jason Lowery as a national security adviser. Lowery, in his thesis at MIT, notably described Bitcoin as a “cyber-defense system” and a form of “soft power projection.”

Kennedy Jr. believes that Bitcoin can protect online identities in cyberspace and bolster national security.

To strengthen the dollar, he proposes backing U.S. Treasury bills, notes, and bonds with hard assets, including precious metals and Bitcoin. This measure is aimed at curbing inflation and ushering in a new era of financial stability.

“The world will rush to back an American-backed decentralized currency,” Kennedy Jr. asserted, envisioning a global shift towards a stronger, asset-backed dollar.

Robert F. Kennedy’s Bitcoin Vision: A Return to Stability, Peace

Robert F. Kennedy Jr. also took aim at the shift away from the gold standard under President Richard Nixon, which he believes led to worsening economic instability.

“Fiat currency was invented to fund war,” Kennedy Jr. remarked, suggesting that a Bitcoin standard would prevent wars since Bitcoin cannot be printed.

Kennedy Jr.'s promises signal a potential transformation in how the United States handles its economy and national security. His vision for Bitcoin includes not only its vast economic benefits but also its role as a strategic asset for national security.

Kennedy Jr.'s plans for a Bitcoin reserve and a hard asset-backed dollar could significantly impact the global financial system.

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