Independent US presidential candidate Robert Kennedy Jr recently made headlines at the BTC 2024 conference by expressing his unwavering support for Bitcoin. This declaration comes amidst a growing focus on cryptocurrency in the lead-up to the upcoming presidential election.
During his speech, RFK Jr enthusiastically proclaimed, “I am a huge supporter of Bitcoin. I have most of my wealth invested in Bitcoin. I am fully committed.” This public endorsement of the largest cryptocurrency aligns with similar sentiments expressed by Republican candidate Donald Trump, who has also embraced Bitcoin by accepting campaign donations in the digital currency.
RFK Jr went on to outline his vision for integrating Bitcoin into the US Treasury, proposing the transfer of the 204,000 bitcoins currently held by the US Department of Justice and US Marshalls to the national reserve. He described his intention to position Bitcoin as a ‘strategic asset,’ emphasizing his plans to issue an executive order mandating the daily purchase of 550 bitcoins by the US Treasury until a reserve of at least 4,000,000 Bitcoins is accumulated. This strategic move aims to solidify the US’s dominance in the cryptocurrency market.
If elected as president, RFK Jr has pledged to implement various measures to promote the use of Bitcoin, including directing the Internal Revenue Service (IRS) to make bitcoin transactions exempt from reporting and taxation. Additionally, he intends to authorize the exchange of bitcoin for real estate through executive orders issued on his first day in office.
During a panel discussion hosted by TheStreet at the BTC 2024 conference, RFK Jr criticized the Federal Reserve for its perceived bias towards the banking industry at the expense of the general public. He argued that the relationship between Congress and the Fed was parasitical and called attention to the lack of public oversight in the decision-making processes of the central bank.
RFK Jr’s bold stance on Bitcoin and his proposed policies regarding cryptocurrency reflect a growing trend towards digital assets in mainstream politics. As the presidential election approaches, the integration of Bitcoin into national economic strategies is likely to become a pivotal issue for voters concerned about the future of financial innovation and regulation.