Independent US presidential candidate Robert F. Kennedy Jr. caused a stir at the Bitcoin 2024 conference by announcing his plan to purchase 4 million Bitcoins for the U.S. government if elected. Kennedy, speaking to a supportive crowd, detailed his bold strategy to integrate Bitcoin into the national economy. He vowed to sign an executive order directing the U.S. Treasury to buy 550 Bitcoin daily until the U.S. amasses the desired reserve, representing nearly 20% of the total Bitcoin supply.
In addition to acquiring additional Bitcoin, Kennedy stated he would move the 204,000 Bitcoin currently held by the government into a Federal Reserve strategic reserve. He predicted that these actions would propel Bitcoin’s value to “hundreds of trillions of dollars.” Kennedy extolled Bitcoin as the “currency of hope” and a means to restore financial stability following years of subpar monetary policies. He contended that transitioning to a Bitcoin standard would reduce incentives for military conflict, as fiat currency was originally created to fund wars.
Despite lagging in early polls, Kennedy’s strong endorsement of Bitcoin may resonate with libertarian-leaning voters concerned about high inflation and diminishing purchasing power. He pledged to exempt Bitcoin transactions from taxes and permit tax-free Bitcoin exchanges, citing the cryptocurrency’s transparency as a potent tool against government corruption. By positioning himself as the most Bitcoin-friendly candidate, Kennedy appears to be capitalizing on the growing Bitcoin voter bloc’s influence.
As Bitcoin emerges as a central theme in the 2024 presidential race, Kennedy’s ambitious proposal for a 4 million Bitcoin reserve suggests a willingness to adopt unconventional policies to attract support. His fervent advocacy for Bitcoin as a solution to economic woes and governmental corruption signals a departure from traditional political strategies. Kennedy’s distinct stance underscores the increasing significance of cryptocurrency in shaping political discourse and voter preferences.
