Presidential Candidate Robert F. Kennedy Jr. Pledges to Make Bitcoin a Strategic Reserve Asset for the US

Addressing attendees at the Bitcoin2024 conference on July 26, Kennedy outlined a vision where Bitcoin would play a key role in enhancing America's economic stability

Presidential candidate Robert F. Kennedy Jr. has pledged to make Bitcoin a strategic reserve asset for the U.S. if elected.

Speaking at the Bitcoin2024 conference on July 26, Kennedy outlined a vision where Bitcoin would play a key role in enhancing America’s economic stability and strategic position. This marks Kennedy’s second appearance at the event, making him one of the longest-standing advocates of the flagship crypto in U.S. political leadership.

In addition to building a significant Bitcoin reserve, Kennedy promised to issue executive orders making Bitcoin transactions with the U.S. dollar unreportable and non-taxable. He also plans to recognize Bitcoin as an eligible asset for 1031 exchanges into real property.

Kennedy’s plan includes backing U.S. debt with hard assets, including Bitcoin, to stabilize the dollar and control inflation. “The strategy I am proposing leverages the scarcity and liquidity of Bitcoin, along with gold and other hard assets, to restore the dollar’s dominance in global finance.”

Kennedy also criticized the Federal Reserve’s monetary policies, which he claims have contributed to wealth inequality and economic instability. He argued that backing the U.S. dollar with Bitcoin and other hard assets would provide a hedge against inflation and strengthen the dollar’s value.

Kennedy highlighted the international implications of current U.S. monetary policies. The weaponization of the dollar against other countries, such as by removing them from the SWIFT system, has accelerated efforts by nations like those in the BRICS group to de-dollarize, he pointed out.

According to Kennedy, unless the U.S. transitions to a more sustainable financial strategy backed by hard assets, it risks losing its economic leadership and the dollar’s reserve currency status.

Kennedy also emphasized Bitcoin’s role in protecting individual freedom. He recounted how the Canadian truckers’ protest and the freezing of their financial assets influenced his advocacy for Bitcoin and made him realize the importance of financial freedom.

“I realized that transactional freedom was as important as freedom of expression in the First Amendment,” he said.

Kennedy stressed Bitcoin’s potential to protect personal freedoms, promote accountability, and combat government corruption, adding: “Bitcoin is anti-war. It is a fierce, merciless, and insurmountable foe of government corruption.”

Political support for Bitcoin

Kennedy expressed optimism about the growing political support for Bitcoin, aiming to establish the U.S. as a global hub for crypto innovation and investment.

He also acknowledged former President Donald Trump’s recent vocal support for Bitcoin and said the growing interest among political leaders was a good thing. Kennedy revealed that Trump might announce a plan to build a “Bitcoin Fort Knox” during his upcoming speech at the conference and authorize the U.S. government to buy 1 million Bitcoin as a strategic reserve asset.

Kennedy expressed support for this potential move, hoping that Trump’s commitment to Bitcoin extends beyond “political expediency.”

He noted that the most cynical political reason for endorsing Bitcoin would be to excite the 60 million American Bitcoin holders with policies that make the value of Bitcoin increase.

However, Kennedy hopes that Trump and other political leaders will develop a deeper understanding of Bitcoin’s potential to secure the U.S. financial system and protect against cyber threats.

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