Robert F. Kennedy Jr. plans to issue executive orders to integrate Bitcoin into the U.S. financial system, aiming to position it as a key strategic asset. He proposes that the U.S. Treasury buy 550 Bitcoin daily, with the goal of accumulating a reserve of 4 million Bitcoins to strengthen financial dominance.
Additionally, Kennedy’s Bitcoin policy includes making transactions non-taxable and allowing them for 1031 exchanges, intending to enhance U.S. economic influence.
RFK Jr. Reveals Bold Bitcoin Plans at Bitcoin 2024
Michael Saylor, founder of MicroStrategy, recently highlighted Robert F. Kennedy Jr.’s statements about Bitcoin on his X account. At the Bitcoin 2024 Conference in Nashville, Kennedy revealed his strong interest in Bitcoin and shared his bold plans for the cryptocurrency if he becomes President of the United States.
Kennedy outlined his intention to implement multiple executive directives to integrate Bitcoin into the U.S. financial system. On his first day in office, he plans to instruct the Department of Justice and the U.S. Marshals to transfer approximately 200,000 Bitcoin currently held by the government to the U.S. Treasury. This Bitcoin would be designated as a vital national asset.
In addition, Kennedy proposed an executive order requiring the U.S. Treasury to acquire 550 Bitcoins daily, with the goal of building a reserve of at least 4 million Bitcoins. This strategy aims to position the United States as a dominant force in the global Bitcoin market.
Kennedy’s plan seeks to ensure that the U.S. holds a significant portion of the total Bitcoin supply, similar to its current gold reserves. He noted that the U.S. holds around 19% of global gold reserves and aims to achieve a comparable share of Bitcoin. According to Kennedy, this policy would enhance the U.S.’s financial dominance and prevent other nations from surpassing its economic influence, potentially driving Bitcoin’s value to hundreds of trillions of dollars.
Robert F. Kennedy Jr. Proposes New Bitcoin Integration Measures
Robert F. Kennedy Jr. also plans to sign an executive order directing the IRS to issue public recommendations to support Bitcoin integration. These regulations would state that all transactions involving Bitcoin and U.S. dollars are non-taxable and non-reportable.
Additionally, Kennedy aims to make Bitcoin eligible for 1031 exchanges into real property. This measure is intended to make Bitcoin transactions more seamless and beneficial for U.S. citizens, enhancing the overall integration of Bitcoin into the financial system.
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