2024

United

Bitcoin

Independent presidential candidate Robert F. Kennedy Jr. during his speech at the Bitcoin 2024 event on July 26, presented a strategic plan to integrate Bitcoin into the U.S. economy if elected as President. Kennedy’s proposal includes several executive orders he intends to sign if elected president. 
His plan’s primary elements involve transferring 204,000 Bitcoin currently held by the United States to the Federal Reserve as a “strategic asset.”&nbsp; 
Additionally, Kennedy proposes ordering the Treasury Department to purchase 500 Bitcoin daily until the reserve reaches at least 4 million BTC. He claims this would give the United States a dominant position in the global economy. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 BREAKING: 🇺🇸 US Presidential candidate Robert Kennedy F. Jr. says he will sign an executive order for the US to buy 550 <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#Bitcoin</a> a day until they build a reserve of 4 million BTC if elected president. <a href="https://t.co/X8Dst1yxBR" target="_blank">pic.twitter.com/X8Dst1yxBR</a>— Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1816950583703797993?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">July 26, 2024</a>
 </blockquote> 
 </div>
</figure> 
Kennedy’s plan also addresses tax policy. He promises to make transactions between Bitcoin and the dollar non-reportable and non-taxable by the Internal Revenue Service (IRS).&nbsp; 
Furthermore, he suggests treating Bitcoin as eligible for exchange into real property under the 1031 Exchange program, which currently provides incentives for real estate investment. 
The presidential candidate also drew parallels between transactional freedom and freedom of expression, arguing that Bitcoin could help restore the U.S. economy to its pre-Vietnam War condition. Kennedy claimed that a global Bitcoin standard could potentially prevent wars by eliminating the ability to print currency to fund conflicts. 
Other aspects of Kennedy’s plan include hiring Space Force Major Jason Lowery as a national security adviser and backing U.S. Treasury securities with hard assets, including precious metals and Bitcoin. Kennedy believes these measures would strengthen the dollar, control inflation, and usher in a new era of financial stability. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/07/27/sen-lummis-makes-no-mention-proposed-bitcoin-bill-at-nashville/">Senators Lummis and Scott Discuss Bitcoin’s Future at Nashville</a> 
</blockquote>

RFK Jr. Promises Strategic Economic Plan for Bitcoin if Elected

The Crypto Times

Other articles published on Jul 27, 2024

XRP Price Explodes 66% in Bearish Market: Is An ETF Coming?

Bancolombia’s Chainlink Integration Paves the Way for Industry-wide Adoption

Bitcoin 2024 day 2 recap: Saylor’s vision, RFK’s remarks steal the show in Nashville

Is Bitcoin Still the Most Commonly Exploited Cryptocurrency by Criminals?

Bitcoin Tumbles as Mt. Gox Executes Massive BTC Transfer: How Much

Blockchain Development Tools and Frameworks

Join our free newsletter for daily crypto updates!