The societal equivalence of cryptocurrencies and decentralized finance is increasingly demonstrating its influence in elections. Global inflation and unchecked money printing have led the public to question their leaders. In this context, the plan of Democratic candidate Robert F. Kennedy Jr., who will participate in the 2024 U.S. presidential elections, to use Bitcoin as a reserve currency backing the U.S. dollar, is garnering attention.
Supporting Cryptocurrencies:
Kennedy Jr. emphasizes that the initial phase of his plan covers only 1% of bonds backed by gold, silver, platinum, or Bitcoin. However, he highlights that this percentage will increase over time. Backing the dollar with solid assets could help the dollar regain its strength and control inflation. #cryptocurrency #elections
Tax Benefits and Incentives:
Kennedy Jr.'s plan envisions exempting Bitcoin gains from capital gains tax. This aims to facilitate innovation, encourage investments, and respect the privacy of citizens. Such a significant incentive might encourage entrepreneurs to stay in the U.S. rather than moving to other countries.
Bitcoin Not Classified as a Security:
Kennedy Jr. also asserts that Bitcoin is not a security and should not be regulated as such. This approach aims to promote the freer use of Bitcoin and support the development of blockchain technology.
Conclusion and Discussions:
These significant steps could strengthen the U.S. economy and foster the growth of cryptocurrencies and blockchain technology. However, these plans will undoubtedly spark debates about the changes they may bring. Voters will carefully share their thoughts and ideas to assess whether future presidents have the capacity to realize this vision. #BTC #bitcoin $BTC
In Summary:
The increasing societal acceptance of cryptocurrencies and decentralized finance is influencing elections. Robert F. Kennedy Jr.'s plan aims to support the U.S. dollar with Bitcoin and make BTC a reserve currency. These actions could empower the U.S. economy but also lead to debates. Voters will carefully share their thoughts to evaluate whether future leaders have the potential to realize this vision. #us