The Democratic presidential candidate reaffirms his support for Bitcoin, stating, “I’m going to put my money where my mouth is.”

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Robert F. Kennedy Jr., the Democratic presidential candidate, recently disclosed purchasing a substantial amount of Bitcoin earlier this year, acquiring two BTC for each of his seven children.

During a Twitter Space event on July 26, Kennedy explained that he made this decision in response to criticism from crypto industry experts and the mainstream media following his pro-Bitcoin statements at the Bitcoin Miami Conference in May.

Kennedy faced criticism for endorsing a “volatile commodity” without having personal investment.

Following the Bitcoin conference, Kennedy received a substantial check, prompting him to act on his words. He purchased two Bitcoins for each of his seven children.

Kennedy has six biological children, four sons, and two daughters, with ages ranging from 22 to 38.

The seventh child is from Kennedy’s marriage to actress Cheryl Hines, who had one daughter before their marriage in 2014.

During his speech at the conference, the candidate, Robert F. Kennedy Jr., stated that he did not personally invest in the cryptocurrency and avoided offering investment advice.

This recent admission marks the first time Kennedy has acknowledged owning Bitcoin, aligning with a leaked financial disclosure that disclosed he had “between $100,001 and $250,000” worth of Bitcoin by the end of June.

However, considering that Kennedy purchased a total of 14 Bitcoins for around $26,800 shortly after the conference, his total holdings at the end of June would have exceeded $380,000.

In the interview, Kennedy reiterated his intention to support the U.S. dollar with Bitcoin and proposed exempting the asset from capital gains taxes if he becomes President

Stressing that he views Bitcoin as a means to revitalize innovation in America, Kennedy expressed that any capital gains exemptions on Bitcoin conversions should be limited to smaller investors and businesses. He aims to avoid providing massive windfalls to large companies like BlackRock and Goldman Sachs.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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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.
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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.

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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.

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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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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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Independent presidential candidate Robert F. Kennedy Jr. has proposed a major shift in U.S. cryptocurrency policy. If elected, he plans to push for a $615 billion Bitcoin investment to match the value of gold reserves and eliminate capital gains tax to support the crypto industry.
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Additionally, former President Donald Trump may endorse Bitcoin as a strategic reserve asset at a conference on July 27.
Kennedy’s Vision for U.S. Bitcoin Reserves
In a recent interview with Custodia Bank CEO Caitlin Long, hosted by YouTuber Scott Melker, Robert F. Kennedy Jr. outlined his plan to align U.S. Bitcoin holdings with the country’s gold reserves. The U.S. currently holds 8,134 tons of gold, valued at approximately $615 billion.

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Source: X
To match this value in Bitcoin, the government would need to acquire about 9.4 million BTC, which represents nearly 45% of the total Bitcoin supply that will ever be mined. Kennedy described Bitcoin as an “honest currency” due to its decentralized and transparent nature. He believes that integrating Bitcoin into the nation’s financial system would foster a more democratic and secure economic future.
Kennedy’s Comprehensive Bitcoin and Asset Backing Proposal

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Robert F. Kennedy Jr.’s proposal includes plans to back new U.S. Treasury bills with a combination of hard assets, such as gold, silver, platinum, and Bitcoin. He envisions gradually incorporating these assets into Treasury bills over time, ultimately aiming for full backing. If realized, this plan would position the U.S. as the largest holder of Bitcoin globally.
Currently, the top corporate Bitcoin holder is MicroStrategy, with approximately 226,331 BTC valued at $14.4 billion. BlackRock’s Bitcoin ETF holds around 334,000 BTC, worth $21.7 billion.
In addition to this substantial Bitcoin investment, Kennedy’s vision also involves eliminating the capital gains tax on cryptocurrencies. This change is intended to make digital assets more attractive and strengthen the U.S.’s leadership in the evolving financial landscape.

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Trump’s Bitcoin Strategy and Market Movements
Former President Donald Trump, a supporter of Bitcoin, is expected to advocate for Bitcoin as a strategic reserve asset during his speech at the Bitcoin Conference on July 27.
According to a Coinglass report, futures traders have predominantly taken long positions on Bitcoin. However, a minor drop to $65,000 could put $1.11 billion in long bets at risk. Leading up to Trump’s speech, Bitcoin’s price has risen to $67,400, marking a 5% increase.

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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As the US presidential elections get closer, the outcome could greatly affect the future of cryptocurrency. The main candidates are Republican Donald Trump, Democrat Kamala Harris, and independent Robert Kennedy.
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Although Kennedy is currently polling low, his support for cryptocurrencies could make Bitcoin’s future look bright if he wins. His pro-crypto policies might boost Bitcoin and create a more positive outlook for digital assets.

Kennedy’s Potential Impact on Bitcoin if Elected
Robert Kennedy Jr., the independent presidential candidate, has shown strong support for cryptocurrencies, especially Bitcoin. His proposed policies include backing the American dollar with precious metals and Bitcoin if elected. Kennedy also promises to enable public control over digital wallets, passwords, and nodes, and to initiate a government Bitcoin purchasing program. These positions are seen as radical yet positive for the crypto community.

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Currently, Kennedy is trailing behind major candidates Donald Trump and Kamala Harris, who each have over 40% of voter support, while Kennedy holds less than 10%. Despite his low polling numbers, analysts find his potential presidency intriguing. If Kennedy were to win, it could significantly boost confidence in Bitcoin, potentially leading to increased buying activity and driving prices higher. However, this scenario remains speculative given his current standing.
Implications of US Presidential Candidates on the Crypto Market
Different US presidential candidates bring varied implications for the cryptocurrency market. Donald Trump has recently adopted a more favorable view towards cryptocurrencies, which could drive positive sentiment if he is elected. Conversely, Kamala Harris is expected to maintain the current administration’s cautious approach towards digital assets. Investors and market participants are closely monitoring how these positions might influence regulatory frameworks and market performance.

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Robert Kennedy Jr., an independent candidate, not only supports but also personally invests in Bitcoin. After the Bitcoin 2023 conference in Miami, he bought two Bitcoins for each of his seven children when the cryptocurrency was priced around $27,000. This personal investment of nearly $380,000 has more than doubled in value with current market conditions, highlighting his commitment to Bitcoin and belief in its potential.
In summary, the upcoming US presidential elections could have significant implications for the cryptocurrency market. Although Kennedy’s current low polling numbers make his victory seem unlikely, his pro-crypto policies could infuse the market with optimism and bullish sentiment if implemented. Meanwhile, Trump’s and Harris’s contrasting positions further complicate the potential outcomes for the crypto industry. The results of the elections are expected to play a crucial role in shaping the future of digital assets in the United States.

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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

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