Image reference number 127748483. Copyright Shutterstock. Reproduction prohibited without permission. See www.shutterstock.com/license for details.
Bitcoin could prove to play a key role in the upcoming US presidential elections, catching the interest of leading politicians. As the election draws closer, Republican presidential candidate Robert F. Kennedy Jr. It is called He has called for the country to acquire millions of Bitcoin as a strategic reserve asset, which he believes will 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. reiterated his plans to make Bitcoin a strategic reserve asset for the United States if he becomes the new president, emphasizing that incorporating digital assets into the country’s monetary system could bolster the stability and resilience of the U.S. dollar.
Addressing the conference attendees, the presidential candidate revealed his intention to issue a pro-Bitcoin executive order on his first day in office, which would instruct the Department of Justice and U.S. Marshals to transfer approximately 200,000 BTC currently held by the U.S. government to the National Treasury, where the Bitcoin would be stored in safe deposit boxes. Strategic reserve assets.
Additionally, Kennedy said he would issue another order requiring the Treasury Department to acquire approximately 550 BTC daily until the U.S. has a reserve of at least 4 million BTC. Kennedy intends for the U.S.’s BTC holdings to be equal to the U.S. gold reserves, which currently account for approximately 19% of the world’s total.
Acknowledge the possibility BitcoinKennedy envisions BTC as a qualifying asset that can be exchanged for real estate, and therefore would like to issue an executive order to the IRS to treat the asset as such if he becomes president.
The crypto advocate, who has been a part of the Bitcoin community for many years, stressed that the most important aspect of the community is the unity among its supporters, which he says reminds him of what America should be like.
For this reason, he believes BTC is a technology for freedom, optimism, independence, democracy and transparency. “Bitcoin is the currency of hope, it is the perfect currency,” he said.
BTC will make America a leader in cyberspace
Kenny is Bitcoin As a strategic reserve asset that can strengthen the U.S. dollar, he noted, the move will position the country as a leader in cyberspace and represent a new era of innovation.
Furthermore, he Quote Rival presidential candidate Donald Trump has been making headlines recently after openly endorsing BTC, revealing that in his next Congressional address he may propose a plan to allow the US government to purchase 1 million BTC as a strategic reserve asset, which would be beneficial for the country.
Kennedy supported the move, but TrumpPresident Trump’s enthusiasm for digital currencies goes beyond political expediency and, most cynically, to excite 60 million BTC holders with policies that will drive up prices. As a result, President Trump has emphasized the need to appreciate BTC’s potential to protect the US financial system and individuals from cyber threats.
Featured image from Shutterstock, chart from Tradingview.com
