Bitcoin

<p><strong>Independent presidential candidate Robert F. Kennedy Jr. has proposed a major shift in U.S. cryptocurrency policy. If elected, he plans to push for a $615 billion Bitcoin investment to match the value of gold reserves and eliminate capital gains tax to support the crypto industry.</strong></p><h2 id="header-0"><a href="https://chikamoji.lol/" rel="noopener noreferrer nofollow">ChikaMoji Memecoin Launched Airdrop: Claim Instant 100,000 CHIKA Tokens Worth $100 USDT, Claim Airdrop At WWW.ChikaMoji.LOL </a></h2><p>Additionally, former President Donald Trump may endorse Bitcoin as a strategic reserve asset at a conference on July 27.</p><h3 id="kennedy-s-vision-for-u-s-bitcoin-reserves">Kennedy’s Vision for U.S. Bitcoin Reserves</h3><p>In a <a href="https://www.youtube.com/watch?v&#61;sDQ30-3REW4" rel="noopener noreferrer nofollow">recent interview</a> with Custodia Bank CEO Caitlin Long, hosted by YouTuber Scott Melker, Robert F. <a href="https://cryptosheadlines.com/bitcoin-minings-green-future-robert-f-kennedy-jr-s-perspective/" rel="noopener noreferrer nofollow">Kennedy Jr. outlined his plan to align U.S. Bitcoin</a> holdings with the country’s gold reserves. The U.S. currently holds 8,134 tons of gold, valued at approximately $615 billion.</p><p><img src="https://academy-public.coinmarketcap.com/optimized-uploads/987953b4425046f78b3f36333b40f138.png" /><img src="https://academy-public.coinmarketcap.com/optimized-uploads/0c114890a97d473d9d561d478bd3e1b5.png" /></p><p>Source: <a href="https://x.com/kyle_chasse/status/1816706455841517622?ref_src&#61;twsrc%5Etfw" rel="noopener noreferrer nofollow">X</a></p><p></p><p>To match this value in Bitcoin, the government would need to acquire about 9.4 million BTC, which represents nearly 45% of the total Bitcoin supply that will ever be mined. <a href="https://cryptosheadlines.com/kennedy-bitcoin-could-back-us-dollar/" rel="noopener noreferrer nofollow">Kennedy described Bitcoin</a> as an “honest currency” due to its decentralized and transparent nature. He believes that integrating Bitcoin into the nation’s financial system would foster a more democratic and secure economic future.</p><h3 id="kennedy-s-comprehensive-bitcoin-and-asset-backing-proposal">Kennedy’s Comprehensive Bitcoin and Asset Backing Proposal</h3><p><a href="https://cryptosheadlines.com/robert-kennedy-jr-buys-2-bitcoin-for-each-of-his-7-children/" rel="noopener noreferrer nofollow">Robert F. Kennedy Jr.’s</a> proposal includes plans to back new U.S. Treasury bills with a combination of hard assets, such as gold, silver, platinum, and Bitcoin. He envisions gradually incorporating these assets into Treasury bills over time, ultimately aiming for full backing. If realized, this plan would position the U.S. as the largest holder of Bitcoin globally.</p><p>Currently, the top corporate Bitcoin holder is MicroStrategy, with approximately 226,331 BTC valued at $14.4 billion. <a href="https://cryptosheadlines.com/bloomberg-analyst-mike-mcglone-on-blackrock-bitcoin-etf-btc-price-and-recession/" rel="noopener noreferrer nofollow">BlackRock’s Bitcoin ETF holds around 334,000 BTC</a>, worth $21.7 billion.</p><p>In addition to this substantial Bitcoin investment, Kennedy’s vision also involves eliminating the capital gains tax on cryptocurrencies. This change is intended to make digital assets more attractive and strengthen the U.S.’s leadership in the evolving financial landscape.</p><h3 id="trump-s-bitcoin-strategy-and-market-movements">Trump’s Bitcoin Strategy and Market Movements</h3><p>Former President Donald Trump, a supporter of Bitcoin, is expected to advocate for Bitcoin as a strategic reserve asset during his speech at the Bitcoin Conference on July 27.</p><p><a href="https://cryptosheadlines.com/blackrocks-buidl-targets-75-of-ethenas-45m-reserve-for-rwa-investment/" rel="noopener noreferrer nofollow">Also Read:   BlackRock&#39;s BUIDL Targets 75% of Ethena&#39;s $45M Reserve for RWA Investment</a></p><p>According to a Coinglass report, futures traders have predominantly taken long positions on Bitcoin. However, a minor drop to $65,000 could put $1.11 billion in long bets at risk. Leading up to Trump’s speech, Bitcoin’s price has risen to $67,400, marking a 5% increase.</p><p><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</p>

Kennedy’s Plan for a $615 Billion Bitcoin Investment

Table of Contents

CryptosHeadlines.com

Other articles published on Jul 27, 2024

Michael Saylor: US Should Own Most of World's Bitcoin

New Memecoin Pepe Eats Solana Will Surge to $10 Million Ahead of Exchange Listings, While SHIB an...

Investors just don’t care about Ethereum as much as Bitcoin

AI News: US Commerce Dept Launches Tool Test Model Risks

ETF Launches Affect Bitcoin and Ethereum

Ripple Payment Network Catering to 80 Countries, How Does This favor XRP?

Join our free newsletter for daily crypto updates!