{"id":51307,"date":"2024-07-27T01:06:00","date_gmt":"2024-07-27T01:06:00","guid":{"rendered":"https:\/\/cointelegraph.com\/news\/robert-kennedy-jr-bitcoin-united-states-economy-strategy"},"modified":"2024-07-27T06:35:54","modified_gmt":"2024-07-27T06:35:54","slug":"rfk-jr-promises-btc-strategic-reserve-dollar-backed-by-hard-assets","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=51307","title":{"rendered":"RFK Jr. promises BTC strategic reserve, dollar backed by hard assets"},"content":{"rendered":"

<\/p>\n

Independent presidential candidate Robert F. Kennedy Jr. praised the role Bitcoin could play in improving the US economy and the American way of life as he spoke to an audience at the Bitcoin2024 event on July 26. He promised to sign a number of executive orders on his first day in office to begin the process.<\/p>\n

Bitcoinization by executive order<\/h2>\n

Kennedy would sign an order requiring the Justice Department and US Marshalls to transfer the 204,000 Bitcoin held by the United States to the Federal Reserve to be held as a \u201cstrategic asset,\u201d he said. Furthermore, Kennedy said he would also order the Treasury Department to purchase of 500 Bitcoin (BTC) daily until the reserve reaches at least 4 million BTC.<\/p>\n

The United States would attain \u201ca position of dominance no other country will be able to usurp\u201d and its Bitcoin reserve would eventually reach a value of \u201chundreds of trillions of dollars,\u201d he promised.<\/p>\n

\"\"
Source: Autism Capital<\/figcaption><\/figure>\n

In addition, Kennedy would order all transactions between Bitcoin and the dollar to be nonreportable and nontaxable by the Internal Revenue Service (IRS). He would also order the IRS to treat Bitcoin as eligible for exchange into real property under the 1031 Exchange program that provides incentive for real estate investment.<\/p>\n

Related: \u2018Cast a vote, but don\u2019t join a cult\u2019 \u2014 Edward Snowden at Bitcoin 2024<\/em><\/strong><\/p>\n

Bitcoin advantages go beyond the economy<\/h3>\n

\u201cTransactional freedom [is] as important as freedom of expression in the 1st Amendment,\u201d Kennedy said, and Bitcoin can provide that freedom and help restore the United States economy to its condition before President Richard Nixon took the US dollar off the gold standard to fund the Vietnam war. Kennedy said:<\/p>\n

\u201cFiat currency was invented to fund war. [\u2026] If the world was on a BTC standard, there would be no more war because you can\u2019t print Bitcoin.\u201d<\/p><\/blockquote>\n

Kennedy would hire Space Force Major Jason Lowery as a national security adviser. Lowery is known for the thesis he wrote at the Massachusetts Institute of Technology that described Bitcoin as a \u201ccyber-defense system\u201d and \u201csoft power projection\u201d that would the online identities in cyberspace.<\/p>\n

Kennedy would back US Treasury bills, notes and bonds with hard assets, including precious metals and Bitcoin to strengthen the dollar, rein in inflation and usher in a new era of financial stability. Then, \u201cthe world will rush to back an American-backed decentralized currency,\u201d he said.<\/p>\n

Magazine: Hyperbitcoinization is underway, RFK seeks Bitcoin donations and other news: Hodler\u2019s Digest, May 14-20<\/em><\/strong><\/p>\n

Check other news for today<\/span> and Please stand by..<\/p>\n

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\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Independent presidential candidate Robert F. Kennedy Jr. praised the role Bitcoin could play in improving the US economy and the American way of life as he spoke to an audience at the Bitcoin2024 event on … RFK Jr. promises BTC strategic reserve, dollar backed by hard assets<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":51308,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5651],"tags":[139,6628,3812,5652,276,159],"class_list":["post-51307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptonews","tag-bitcoin","tag-btcnews","tag-cryptonews","tag-emilynews","tag-ethereum","tag-hyipnews","exalt-entry"],"yoast_head":"\nRFK Jr. promises BTC strategic reserve, dollar backed by hard assets - EmilyNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/emilynews.com\/blog\/?p=51307\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RFK Jr. promises BTC strategic reserve, dollar backed by hard assets - EmilyNews\" \/>\n<meta property=\"og:description\" content=\"Independent presidential candidate Robert F. 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