- Robert F. Kennedy Jr. is considering purchasing 550 Bitcoin daily for the U.S. reserve in the event of his presidency. –
- He is suggesting tax incentives for Bitcoin transactions and aims to exempt them from IRS reporting requirements.
- Kennedy is also advocating for the integration of Bitcoin into the national security framework and supporting U.S. Treasury assets with it.
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During Bitcoin 2024, Robert F. Kennedy Jr. presented innovative concepts regarding the incorporation of Bitcoin into the U.S. economy in the event of a successful election campaign. His ambitious strategy involves acquiring Bitcoin on a daily basis with the aim of fortifying the U.S. financial infrastructure.
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The central aspect of Kennedy’s proposal is to utilize the 204,000 Bitcoin currently held by the Justice Department and U.S. Marshalls by transferring it to the Federal Reserve. This move is intended to leverage the potential of Bitcoin to enhance the stability and resilience of the U.S. financial system.
By implementing this strategy, Kennedy aims to revolutionize the economic landscape by embracing the opportunities presented by Bitcoin. The proposed integration of Bitcoin into the U.S. economy reflects a forward-thinking approach towards leveraging digital assets for the benefit of the nation’s financial well-being.
Referring to Bitcoin as a “strategic asset,” he believes that it could provide a significant advantage to the United States on an international scale. His proposal involves the Treasury Department purchasing 500 Bitcoin daily until the reserve reaches 4 million BTC.
By implementing this strategy, he anticipates that the U.S. will secure a leading position, as the value of the Bitcoin holdings could potentially reach “hundreds of trillions of dollars.” This bold approach aims to leverage the power of Bitcoin to strengthen the country’s position in the global economic landscape.
Revolutionizing Taxes and Financial Regulations with Bitcoin
Kennedy expressed his desire to render all Bitcoin-to-dollar transactions exempt from reporting and taxation, effectively keeping the IRS out of the picture. He believes that this move would grant individuals a sense of “transactional freedom,” akin to the freedom of speech.
He expressed his desire to facilitate the conversion of Bitcoin into real property through the 1031 Exchange program, which currently offers tax incentives for real estate transactions. By advocating for the inclusion of Bitcoin in this program, he aims to stimulate economic growth and foster innovation. Essentially, Kennedy believes that integrating Bitcoin into the system could potentially revive the U.S. economy to its former glory, reminiscent of the era before the dollar was delinked from the gold standard in the 1970s.
Kennedy highlighted the role of America’s fiat currency as a means to finance wars, emphasizing the negative implications associated with this practice. He suggested that adopting a Bitcoin standard could serve as a deterrent to conflicts, as the decentralized nature of Bitcoin prevents the arbitrary printing of currency to fund military endeavors. By proposing this alternative approach, Kennedy aims to address the underlying issues related to the financing of wars through traditional fiat currencies.
In his statements, Kennedy underscored the potential benefits of transitioning to a Bitcoin standard, particularly in terms of promoting financial stability and reducing the likelihood of armed conflicts. By advocating for the integration of Bitcoin into the 1031 Exchange program, he envisions a future where the digital currency plays a pivotal role in reshaping economic policies and fostering a more secure financial landscape. Kennedy’s proposals reflect a forward-thinking approach to addressing the challenges associated with traditional fiat currencies and exploring innovative solutions to promote economic prosperity.
The Bitcoin strategy of the presidential candidate extends to the realm of national security. He is considering the appointment of Space Force Major Jason Lowery as a national security adviser.
Lowery is recognized for his unconventional perspectives, such as regarding Bitcoin as a “cyber-defense system” and a means to exert “soft power” globally.
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