2024

Bank

Bitcoin

Billion

<p>The post <a href="https://coinpedia.org/news/us-to-acquire-615-billion-in-bitcoin-if-robert-f-kennedy-jr-wins-2024-election/" rel="noopener noreferrer nofollow">US To Acquire $615 Billion in Bitcoin If Robert F. Kennedy Jr. Wins 2024 Election</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Independent presidential candidate Robert F. Kennedy Jr. has announced his ambitious plan to revolutionize the country’s approach towards cryptocurrencies. If he wins the election, Kennedy promises to push the federal government to invest $615 billion in Bitcoin, aiming to match the value of the nation’s gold reserves.</p>
<h2 class="wp-block-heading" id="h-kennedy-s-615-billion-bitcoin-plan">Kennedy’s $615 Billion Bitcoin Plan</h2>
<p>In a <a href="https://www.youtube.com/watch?v=sDQ30-3REW4" rel="noopener noreferrer nofollow">recent interview</a> with Custodia Bank CEO Caitlin Long, hosted by YouTuber Scott Melker, Kennedy detailed his plan to align the U.S. Bitcoin holding with its country’s gold reserves. Currently, the U.S. holds 8,134 tons of gold, valued at approximately $615 billion.&nbsp;</p>
<p>However, to match this value in Bitcoin, the government would need to acquire about 9.4 million BTC nearly 45% of the total Bitcoin supply that will ever be mined.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">LATEST: <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> Robert F. Kennedy Jr. Says He’ll Make The US Govt Buy $615 Billion Of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> If Elected <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f92f.png" alt="🤯" class="wp-smiley" style="height: 1em; max-height: 1em;"><br><br>U.S. presidential candidate Robert F. Kennedy Jr. has announced a bold vision for the nation’s financial future. <br><br>If elected, Kennedy plans to push the federal government… <a href="https://t.co/MOLHIIaMTS" rel="noopener noreferrer nofollow">pic.twitter.com/MOLHIIaMTS</a></p>— Kyle Chassé (@kyle_chasse) <a href="https://twitter.com/kyle_chasse/status/1816706455841517622?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 26, 2024</a>
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<p>Further Kennedy described Bitcoin as an “honest currency” due to its decentralized and transparent nature. He believes that integrating Bitcoin into the nation’s financial system would support a more democratic and secure economic future.</p>
<h2 class="wp-block-heading" id="h-integrating-bitcoin-with-treasury-bills">Integrating Bitcoin with Treasury Bills</h2>
<p>Kennedy’s proposal also includes a plan to back new U.S. Treasury bills with a mix of hard assets, including gold, silver, platinum, and Bitcoin. He visualized progressively allowing these Treasury bills to this asset mix over time, aiming for full backing eventually. If implemented, this plan would make the U.S. the largest Bitcoin holder worldwide.&nbsp;</p>
<p>Currently, MicroStrategy, the top corporate Bitcoin holder, has about <a href="https://bitcointreasuries.com/microstrategy/#:~:text=MicroStrategy%20owns%20226%2C331%20bitcoins%20as,cost%20of%20%247.538%20billion%20USD." rel="noopener noreferrer nofollow">226,331 BTC worth $14.4 billion</a>, while BlackRock’s Bitcoin ETF controls 334,000 BTC valued at $21.7 billion.</p>
<h2 class="wp-block-heading" id="h-kennedy-to-eliminate-capital-gains-tax">Kennedy To Eliminate Capital Gains Tax</h2>
<p>In addition to the massive <a href="https://coinpedia.org/news/bitcoin-booms-under-trumps-influence-as-global-stocks-stumble/" rel="noopener noreferrer nofollow">Bitcoin investment</a>, Kennedy’s vision includes the elimination of capital gains tax on cryptocurrencies. This move is designed to enhance the attractiveness of digital assets and reinforce the U.S.’s role as a leader in the evolving financial sector.</p>
<h2 class="wp-block-heading" id="h-trump-s-to-speak-at-bitcoin-conference">Trump’s To Speak At Bitcoin Conference</h2>
<p>On the other hand, Former President Donald Trump, a Bitcoin supporter, might call for Bitcoin to be a strategic reserve asset in his <a href="https://coinpedia.org/news/trump-to-speak-at-the-bitcoin-2024-conference-in-nashville-on-july-27/" rel="noopener noreferrer nofollow">July 27 speech</a> at the Bitcoin Conference.</p>
<p>As per the <a href="https://www.coinglass.com/pro/dashboard/bitcoin" rel="noopener noreferrer nofollow">Coinglass report</a> futures traders have mostly taken long positions. Meanwhile, a small drop to $65,000 could risk $1.11 billion in long bets. Ahead of Trump’s speech, Bitcoin has <a href="https://markets.coinpedia.org/bitcoin/" rel="noopener noreferrer nofollow">risen to $67,400</a>, up 5%.</p>

US To Acquire $615 Billion in Bitcoin If Robert F. Kennedy Jr. Wins 2024 Election

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