In a recent interview, Presidential candidate Robert F. Kennedy Jr. suggested that the federal government should acquire enough Bitcoin to match the value of the nation’s gold reserves.
In a recent interview, Presidential candidate Robert F. Kennedy Jr. suggested that the federal government should acquire enough Bitcoin to match the value of the nation’s gold reserves. This comes as speculation mounts about President Donald Trump's intentions to establish a U.S. Bitcoin reserve.
Kennedy, an independent candidate, shared his vision during a conversation with Custodia Bank CEO Caitlin Long, hosted by YouTuber Scott Melker. He emphasized the integrity of Bitcoin as a currency, noting its decentralized nature and transparency. "Bitcoin is an honest currency," Kennedy stated. "It's based on proof of work, everything is on the ledger, and that’s what we need to do with democracy."
The U.S. government currently holds 8,134 tons of gold, valued at approximately $615 billion. To match this value in Bitcoin, the government would need to procure around 9.4 million BTC at current prices, which represents nearly 45% of the total Bitcoin supply.
Kennedy’s plan aligns with his broader strategy to back both government currency and debt with a mix of hard assets, including gold, silver, platinum, and Bitcoin. He elaborated on this idea, proposing a new class of U.S. Treasury bills anchored to this basket of assets. The anchoring would start at 1% in the first year, increase to 2% in the second year, and ultimately reach 100% over time.
The ambitious Bitcoin acquisition would be carried out during Kennedy’s first four years in office. "I would like to have the federal government begin to buy Bitcoin and over my term in office, ultimately have an equivalent amount of Bitcoin that we have gold," he said.
If implemented, this plan would make the United States the largest Bitcoin holder globally. Currently, the largest corporate Bitcoin owner is MicroStrategy, with 226,331 BTC valued at $14.41 billion. The world's largest Bitcoin ETF, managed by BlackRock, holds 334,000 BTC worth $21.73 billion. The U.S. government’s potential holdings would dwarf these figures.
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