Bitcoin has proven to be an important part of the upcoming US presidential election, gaining attention among key political figures. As the election approaches, Republican presidential candidate Robert F. Kennedy Jr. has announced his intention to run. Named Analysts believe that the country should acquire millions of bitcoins as a strategic reserve asset, which they believe could strengthen the US dollar.
Kennedy Jr. Pledges to Make Bitcoin a Strategic Reserve Asset
In a bold statement at the Bitcoin 2024 conference on July 26, Kennedy Jr. Kennedy Jr. has reiterated his plans to make Bitcoin a strategic reserve asset in the United States if he becomes the new president. Kennedy Jr. highlighted how integrating digital assets into the country’s financial system would enhance the stability and resilience of the US dollar.
In his address to the conference, the presidential candidate began by revealing his intention to issue a pro-Bitcoin executive order on the first day of his victory. The order would direct the Department of Justice and U.S. Marshals to transfer the roughly 200,000 bitcoins currently held by the U.S. government to the country’s treasury, where they would be stored as digital currency. strategic reserve assets.
Additionally, Kennedy stated that he will issue another order requiring the Treasury Department to purchase approximately 550 bitcoins per day so that the United States can create a reserve of at least 4 million bitcoins. Kennedy intends to match the U.S.’s bitcoin holdings with its gold reserves, which currently comprise approximately 19% of the world’s gold reserves.
Recognizing the possibility BitcoinKennedy envisions Bitcoin as a qualifying asset for exchange for real estate, and he hopes to pass an executive order to the IRS to treat the asset as such once he takes office.
Having become part of the Bitcoin community over time, the cryptocurrency advocate emphasized that the most important aspect of the community is unity among supporters, which reminds him of what America should be like.
For this reason, he believes that Bitcoin is a technology of freedom, optimism, independence, democracy and transparency. “Bitcoin is the currency of hope, it is the currency of perfection,” he said.
Bitcoin Will Make America a Leader in Cyberspace
While Kennedy defends Bitcoin He noted that this move would make the country a leader in cyberspace, symbolizing a new era of innovation.
Moreover, it is Cited Donald Trump, the rival presidential candidate, recently came out in support of Bitcoin. Trump revealed that during his upcoming convention speech, he might propose a plan to authorize the US government to buy one million Bitcoins as a strategic reserve asset, which would benefit the country.
Although Kennedy supported the move, he hoped that trump cardTrump’s dedication to the cryptocurrency goes beyond political expediency, with perhaps the most cynical reason being to excite the 60 million BTC holders with policies that would drive up its price. As a result, he has emphasized the need for a sound understanding of BTC’s potential to protect the U.S. financial system and individuals from cyber risks.
Featured image by Shutterstock, chart by Tradingview.com
