Robert F. Kennedy Jr. plans executive orders to integrate Bitcoin into the U.S. financial system, positioning it as a strategic asset.
Kennedy proposes daily U.S. Treasury Bitcoin purchases to build a reserve of 4 million Bitcoins for financial dominance.
Kennedy’s Bitcoin policy includes making transactions non-taxable and eligible for 1031 exchange to boost U.S. economic influence.
Michael Saylor, founder of MicroStrategy, recently shared on his X account a statement from Robert F. Kennedy, Jr., regarding Bitcoin. During the Bitcoin 2024 Conference in Nashville, Kennedy affirmed his interest in Bitcoin, outlining his ambitious plans for the cryptocurrency if he becomes President of the United States.
"I will sign another executive order directing the US Treasury to purchase 550 #Bitcoin daily until the US has built a reserve of at least 4 million Bitcoins." – @RobertKennedyJrpic.twitter.com/VZCKtSlNB7
— Michael Saylor⚡️ (@saylor) July 26, 2024
Kennedy declared his aspiration to adopt multiple executive directives to integrate Bitcoin into the U.S. financial system. He proposed that on his first day in office, he would instruct the Department of Justice and the U.S. Marshals to transfer roughly 200,000 Bitcoin, currently in governmental custody, to the U.S. Treasury. This Bitcoin would be considered a critical asset for the nation.
Robert F. Kennedy, Jr., mentioned his intention to authorize an executive order mandating the U.S. Treasury to acquire 550 Bitcoins daily. This plan aims to build a reserve of at least 4 million Bitcoins, establishing the United States as a dominant force in the global Bitcoin market.
Kennedy’s proposal is intended to ensure that the U.S. holds a substantial proportion of the total Bitcoin supply, similar to its gold reserves. He noted that the U.S. currently holds around 19% of global gold reserves and aims to achieve a comparable proportion of Bitcoin. According to him, this policy would solidify a position of financial dominance for the U.S., preventing other nations from surpassing its economic influence. He also believed that these actions would eventually propel Bitcoin’s value to hundreds of trillions of dollars.
Robert F. Kennedy, Jr., also noted plans to sign an executive order directing the IRS to publish public recommendations to further aid in Bitcoin integration. These regulations would declare that all transactions involving Bitcoin and US dollars are non-taxable and non-reportable.
Additionally, Kennedy intends to make Bitcoin an eligible asset for 1031 exchange into real property. This executive order aims to facilitate more seamless and advantageous Bitcoin transactions for U.S. citizens.
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