Democratic presidential candidate Robert F. Kennedy Jr. has promised to gradually support the US dollar with Bitcoin (BTC) if he is elected president.
Speaking July 19 Heal-the-Divide PAC It happenedKennedy claimed that backing the U.S. dollar with what he called “hard currency,” including gold, silver, platinum, or bitcoin, could help re-stabilize the U.S. economy.
“Supporting the dollar and US debt obligations with solid assets can help restore strength to the dollar again, curb inflation, and usher in a new era of US financial stability, peace and prosperity.”
Kennedy explained that the process would be gradual and that, depending on the success of the plan, he would adjust the amount of support for the dollar.
“My plan would be to start very, very small; maybe 1% of T-bills issued would be backed by hard currency or gold or silver or platinum or bitcoin.”
In addition, Kennedy announced that he would make transfers of bitcoin to US dollars exempt from capital gains taxes.
In his view, the proposed exemption would spur investment and motivate projects to grow their businesses in the United States rather than other crypto-friendly jurisdictions such as Singapore or Switzerland.
Related: Jack Dorsey advises pro-crypto candidate Robert Kennedy to win the presidency
Kennedy’s latest round of pro-Bitcoin comments comes on the heels of his appearance at the Miami Bitcoin 2023 Conference on May 19 where he announced that he would be accepting political campaign donations in Bitcoin.
On July 9, investment disclosures revealed that Kennedy owned up to $250,000 worth of bitcoin, despite his previous statements where he denied having any exposure to the asset.
RFK Jr. One of many presidential candidates to make comprehensive crypto-based promises. On July 14, Republican presidential candidate and Florida Governor Ron DeSantis promised to ban central bank digital currencies if elected president.
“If I were the president, on day one, we would abolish the central bank digital currency. Dead. Dead. It doesn’t happen in this country,” DeSantis said.
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