bitcoin has proven to be a major part of the upcoming US presidential election, sparking interest from major political figures. As the election approaches, Republican presidential candidate Robert F. Kennedy Jr. has x.com/TFTC21/status/1816956225810297052″ target=”_blank” rel=”noopener nofollow”>called in the nation to acquire millions of btc as a strategic reserve asset, which it believes 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. reiterated his plans to make bitcoin a strategic reserve asset in the United States should he emerge as the nation’s new president. He highlighted how incorporating the digital asset into the country’s financial system can strengthen the stability and resilience of the U.S. dollar.
Addressing the conference attendees, the presidential candidate began by revealing his intention to issue a pro-bitcoin executive order on the first day of his victory. This order will direct the Department of Justice and the US Marshals to transfer the approximately 200,000 btc currently held by the US government to the country's Treasury, where it will be held as a deposit. strategic reserve asset.
Additionally, Kennedy stated that he would issue another order requiring the Treasury to acquire about 550 btc daily until the United States has established a reserve of at least 4 million btc. Kennedy intends to match the United States’ btc holdings with its gold reserve, which currently accounts for about 19% of the world’s gold reserve.
Recognizing the potential of bitcoinKennedy sees btc as an asset that can be exchanged for real estate, so he hopes to pass an executive order to the IRS to treat the asset as such once he takes office as president.
Having been a part of the bitcoin community for a long time, the cryptocurrency advocate highlighted that the most significant aspect of the community is the unity among followers, which reminds him of what America is supposed to be like.
He therefore believes that btc is the technology of freedom, optimism, independence, democracy and transparency. “bitcoin is the currency of hope, it is the perfect currency,” he said.
btc will make the United States a leader in cyberspace
While Kenndy advocates bitcoin As a strategic reserve asset that could strengthen the US dollar, he said the move would make the country a leader in cyberspace, symbolizing a new era of innovation.
Also, he x.com/BitcoinMagazine/status/1816964809512091793″ target=”_blank” rel=”noopener nofollow”>aforementioned The recent open endorsement of btc by rival presidential candidate Donald Trump revealed that during his upcoming conference speech, Trump might propose a plan to authorize the US government to purchase 1 million btc as a strategic reserve asset, which is advantageous for the country.
Although Kennedy backed the measure, he hopes that TriumphTrump’s dedication to the digital currency goes beyond political expediency, as the most cynical reason might be to excite 60 million btc holders with policies that will increase its price. As a result, he has emphasized the need for a proper understanding of btc’s potential to protect the American financial system and individuals against cyber dangers.
Featured image from Shutterstock, chart from Tradingview.com
