Independent American presidential candidate Robert F. Kennedy Jr. made headlines at the Bitcoin 2024 conference by promising to buy 4 million Bitcoins for the U.S. government if he were elected president. Speaking to a cheering crowd, Kennedy outlined his bold plan to integrate Bitcoin into the nation’s economy.
“I will sign an executive order directing the U.S. Treasury to purchase 550 Bitcoin every day until the U.S. has built up a reserve of at least 4 million,” Kennedy stated. This would represent nearly 20% of the total Bitcoin supply.
Kennedy also said he would move the 204,000 Bitcoin currently held by the government into a strategic reserve at the Federal Reserve. He promised that the cascading impact of these moves would “effectively push Bitcoin to hundreds of trillions of dollars in value.”
He praised Bitcoin as “the currency of hope” and a way to restore financial stability after years of bad monetary policy.Fiat money was invented to finance war,” Kennedy said, adding that a Bitcoin standard would remove incentives for military conflict.
While Kennedy is not doing well in early polls, his full-throated embrace of Bitcoin could help him gain traction with libertarian voters. He has railed against high inflation and shrinking purchasing power, issues he believes adopting a Bitcoin standard would address.
Kennedy also promised to make Bitcoin transactions non-taxable and allow Bitcoin to be traded tax-free. He said Bitcoin’s transparency makes it “the number one enemy 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 reserve of 4 million bitcoins shows that he is willing to take bold positions to appeal to the growing Bitcoin voter bloc.