Independent US presidential candidate Robert F. Kennedy Jr. made headlines at the Bitcoin 2024 conference by pledging to purchase 4 million Bitcoins for the U.S. government if elected president. Speaking to a cheering crowd, Kennedy outlined his bold plan to integrate Bitcoin into the national economy.
“I will sign an executive order directing the U.S. Treasury to purchase 550 Bitcoin daily until the U.S. amasses a reserve of at least 4 million,” Kennedy declared. This would represent nearly 20% of the total Bitcoin supply.
Kennedy also said he would transfer the 204,000 Bitcoin currently held by the government into a Federal Reserve strategic reserve. He promised the cascading impact of these moves would “effectively move Bitcoin to a valuation of hundreds of trillions of dollars.”
He praised Bitcoin as “the currency of hope” and a way to restore financial stability after years of poor monetary policies. “Fiat currency was invented to fund the war,” Kennedy said, adding that a Bitcoin standard would eliminate incentives for military conflict.
While Kennedy is not doing very well in early polls, his full-throated embrace of Bitcoin could help him gain traction with libertarian-leaning voters. He railed against high inflation and shrinking purchasing power, issues he believes adopting a Bitcoin standard would address.
Kennedy also pledged to make Bitcoin transactions non-taxable and allow Bitcoin to be exchanged tax-free. He said Bitcoin’s transparency makes it “the greatest foe of government corruption.”
With Bitcoin becoming a hot topic in the 2024 race, Kennedy is clearly trying to seize the mantle as the most Bitcoin-friendly candidate. His call for a massive 4 million bitcoin reserve shows he is willing to stake out bold positions to attract the growing Bitcoin voter bloc.
