Independent US presidential candidate Robert F. Kennedy Jr. Kennedy made headlines at the Bitcoin 2024 conference when he pledged to buy 4 million Bitcoin for the U.S. government if elected president. Speaking to a cheering crowd, Kennedy outlined his bold plans to integrate Bitcoin into the national economy.
“I will sign an executive order directing the U.S. Treasury to purchase 550 Bitcoin per day until the United States has accumulated a reserve of at least 4 million Bitcoin,” Kennedy said, which represents roughly 20% of Bitcoin’s total supply.
Kennedy also said that the 204,000 bitcoins currently held by the government would be transferred to the Federal Reserve’s strategic reserve. He promised that the knock-on effect of these measures would “effectively make bitcoin worth hundreds of trillions of dollars.”
He praised Bitcoin as a “currency of hope” and a way to restore financial stability after years of failed monetary policy.Legal tender “Bitcoin was invented to finance wars,” Kennedy said, adding that Bitcoin’s standardization would remove the incentive for military conflict.
Kennedy is not doing well in early polls, but his full embrace of Bitcoin could help him gain support from liberal voters. He has railed against high inflation and dwindling purchasing power, but believes the adoption of the Bitcoin standard can solve these problems.
Kennedy also pledged to make bitcoin transactions tax-free and allow bitcoin to be exchanged tax-free, citing Bitcoin’s transparency as “the number one enemy of government corruption.”
With Bitcoin now a hot topic in the 2024 presidential election, Kennedy is clearly trying to emerge as the most Bitcoin-friendly candidate. His call for a massive stockpile of 4 million Bitcoin indicates he is willing to take a bold stance to attract Bitcoin’s growing base of supporters.
