Robert F. Kennedy Jr. has pledged to purchase 550 Bitcoin daily for the U.S. reserve if he is elected

Robert F. Kennedy Jr. intends to purchase 550 Bitcoins daily for the U.S. reserve in the event that he is elected president.

Robert F. Kennedy Jr. presented some revolutionary concepts regarding the integration of Bitcoin into the U.S. economy in the event that he were to win the election at Bitcoin 2024 today.

Kennedy had the notion to transmit the 204,000 Bitcoin that the Justice Department and U.S. Marshalls have stored to the Federal Reserve.

He refers to Bitcoin as a “strategic asset,” which he believes has the potential to significantly enhance the United States’ global standing. He desires the Treasury Department to acquire 500 Bitcoins on a daily basis until the reserve reaches 4 million BTC.

He asserts that this action will establish the United States in a dominant position, with the Bitcoin hoard potentially estimated to be worth “hundreds of trillions of dollars.”

Kennedy also stated that he intends to render all Bitcoin-to-dollar transactions nonreportable and nontaxable, which would avoid the IRS’s involvement.

He also stated that he aims to make Bitcoin eligible for exchange into real property under the 1031 Exchange program, which currently provides tax benefits for real estate transactions.

He aims to stimulate economic development and innovation by incorporating Bitcoin. Kennedy is essentially asserting that Bitcoin has the potential to restore the U.S. economy to the state it was in prior to Nixon’s removal of the dollar from the gold standard in the 1970s.

Kennedy referred to the fiat currency of the United States as a means of financing conflicts. He even went so far as to suggest that a Bitcoin standard could potentially prevent conflicts, as it is impossible to simply print Bitcoin to finance a war.

The presidential candidate’s Bitcoin proposals also involve national security. He is contemplating the appointment of Space Force Major Jason Lowery as a national security adviser.

Lowery’s unconventional ideas are well-documented, such as his perception of Bitcoin as a “cyber-defense system” and a means of implementing “soft power” globally.

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