• RFK Jr plans daily Treasury purchases of 550 Bitcoin, aiming for a 4 million Bitcoin reserve if elected president.

  • RFK Jr will direct the DOJ and US Marshals to transfer 200,000 government-held Bitcoin to the US Treasury.

  • RFK Jr’s executive orders include making Bitcoin transactions non-taxable by the IRS.

Robert F. Kennedy Jr  has announced plans to issue multiple Bitcoin-related executive orders if he is elected to the White House. While speaking at the Bitcoin Conference in Tennessee, Kennedy outlined his plan to integrate Bitcoin into the nation’s financial reserves.

Kennedy is the Remedy! 19 percent US strategic reserve of Bitcoin https://t.co/NI6V2svrGf

— Charles Hoskinson (@IOHK_Charles) July 26, 2024

Kennedy vowed that he will sign an executive order requiring the Treasury Department to purchase 550 Bitcoin daily until the reserve reaches an amount of 4 million Bitcoin. 

This decision will secure about 19% of the global Bitcoin supply which will match the nation’s current gold reserves proportion. He believes the move will move Bitcoin’s valuation to hundreds of trillions of dollars.

He also plans to sign an executive order directing the Department of Justice and the US Marshals to transfer about 200,000 Bitcoin held by the US government to the US Treasury. He stressed that this move would position Bitcoin as a strategic asset for the country.

The pro bitcoin candidate also intends to sign an executive order instructing the Internal Revenue Service (IRS) to classify transactions between Bitcoin and the US dollar as non-reportable and non-taxable. 

He also plans to make Bitcoin an eligible asset for 1031 exchanges into real property. This change would allow individuals to avoid paying capital gains taxes when selling an investment property and reinvesting the proceeds into another property of such a kind.

Kennedy’s proposals reflect his vision of incorporating Bitcoin into the US financial system. His campaign has focused on bitcoin and leveraging it to strengthen the nation’s economic position.

Robert F. Kennedy Jr’s ambitious plans for integrating Bitcoin into the US economy may change the crypto stand of the US if he is elected president. His proposals highlight the potential for digital assets and the role they might play in the nation’s financial strategy if he is elected president.

Read Also

  • US Senate Elects Ex-Ripple Advisor as Fed Vice Chair for Supervision

  • RFK Jr. Proposes Federal Bitcoin Investments as He Competes With Trump for Presidential Role

  • Charles Hoskinson Advocates Blockchain Technology for Transparent Elections

  • U.S Senator Cynthia Lummis leads charge for the first Bitcoin president

  • RFK Jr’s Bold Stance: Fears CBDCs, Champions Bitcoin for Financial Freedom

The post RFK Jr Promises Executive Order to Buy 550 Bitcoin Daily If Elected President appeared first on Crypto News Land.

#BTCÂ