US Presidential Candidate Robert Kennedy Jr Unveils Plan to Back US Dollar With Bitcoin

U.S. statesmanlike campaigner Robert F. Kennedy Jr. (RFK Jr.) has unveiled 2 caller reforms for bitcoin if helium is elected president. He plans to backmost the U.S. dollar with the cryptocurrency and destruct superior gains taxes connected the conversion of bitcoin to USD. RFK Jr. stressed that his administration’s ngo is to marque America “the planetary hub of cryptocurrency, peculiarly bitcoin.”

Kennedy Administration Plans to Back US Dollar With Bitcoin

U.S. statesmanlike campaigner Robert F. Kennedy Jr. unveiled respective bullish plans for bitcoin if helium is elected president during his code astatine a Heal-the-Divide lawsuit connected Tuesday. Kennedy is simply a lad of erstwhile U.S. Attorney General and Senator Robert F. Kennedy and nephew of erstwhile U.S. President John F. Kennedy.

The statesmanlike hopeful began by outlining the reforms helium antecedently promised regarding BTC, stating that his administration’s ngo is to marque America “the planetary hub of cryptocurrency, peculiarly bitcoin, arsenic a means of incentivizing greater concern successful greenish and renewable vigor production, attracting engineering, investment, and innovation to our country.” He besides promised to “put an extremity to the existent policies of the Biden medication that are invited by Chokepoint 2.0 to punish banks for dealing successful bitcoin, and besides to marque beardown barriers against the issuance of cardinal slope integer currencies [CBDCs].”

“I privation to speech contiguous astir 2 further reforms that we’ve fixed a batch of thought to, and are going to beryllium portion of our package,” Kennedy said Tuesday. One of the reforms is to backmost the U.S. dollar with BTC. He detailed:

The Kennedy medication volition beryllium backing the U.S. dollar with real, finite assets, specified arsenic gold, silver, platinum, and bitcoin, which is the world’s hardest liquid asset, to fortify the U.S. dollar and warrant its continued occurrence arsenic the world’s reserve currency.

“This volition see U.S. Treasury bills, notes, and bonds. My program would beryllium to commencement very, precise tiny — possibly 1% of issued T-bills would beryllium backed by hard currency, by gold, silver, platinum, oregon bitcoin. And then, depending connected the outcome, we would summation that annually,” helium described. “What this volition bash is … ironically, we volition beryllium capable to usage bitcoin to assistance prevention the U.S. dollar.”

Capital Gains Tax Exemption

Another bitcoin betterment Kennedy revealed connected Tuesday concerns superior gains taxes from converting the cryptocurrency to U.S. dollars. The pro-bitcoin statesmanlike candidate, who precocious revealed that helium holds up to $250K successful BTC, stated:

Like Singapore, Germany, Switzerland, Puerto Rico and Portugal, the Kennedy medication volition exempt the conversion of bitcoin to U.S. dollars from superior gains taxes.

Kennedy explained that the benefits of this argumentation see “facilitating innovation and investment, ensuring national privacy, [and] incentivizing businesses to turn their concern and tech jobs successful the United States alternatively than successful Singapore, Switzerland, Germany, and Portugal.”

Moreover, helium explained that 1 of the factors successful this determination is that “non-taxable events are unreportable,” emphasizing that “it volition beryllium much hard for governments to weaponize currency against escaped speech, which, arsenic galore of you cognize is 1 of my rule objectives, and different civilian liberties.”

What bash you deliberation astir the reforms Robert F. Kennedy Jr. has planned for bitcoin if helium is elected president? Let america cognize successful the comments conception below.