RFK Jr. Promises Strategic Economic Plan for Bitcoin if Elected

Independent presidential candidate Robert F. Kennedy Jr. during his speech at the Bitcoin 2024 event on July 26, presented a strategic plan to integrate Bitcoin into the U.S. economy if elected as President. Kennedy’s proposal includes several executive orders he intends to sign if elected president.

His plan’s primary elements involve transferring 204,000 Bitcoin currently held by the United States to the Federal Reserve as a “strategic asset.” 

Additionally, Kennedy proposes ordering the Treasury Department to purchase 500 Bitcoin daily until the reserve reaches at least 4 million BTC. He claims this would give the United States a dominant position in the global economy.

Kennedy’s plan also addresses tax policy. He promises to make transactions between Bitcoin and the dollar non-reportable and non-taxable by the Internal Revenue Service (IRS). 

Furthermore, he suggests treating Bitcoin as eligible for exchange into real property under the 1031 Exchange program, which currently provides incentives for real estate investment.

The presidential candidate also drew parallels between transactional freedom and freedom of expression, arguing that Bitcoin could help restore the U.S. economy to its pre-Vietnam War condition. Kennedy claimed that a global Bitcoin standard could potentially prevent wars by eliminating the ability to print currency to fund conflicts.

Other aspects of Kennedy’s plan include hiring Space Force Major Jason Lowery as a national security adviser and backing U.S. Treasury securities with hard assets, including precious metals and Bitcoin. Kennedy believes these measures would strengthen the dollar, control inflation, and usher in a new era of financial stability.

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