Bitrabo Editorial
The upcoming United States Presidential election has seen a growing interest in Bitcoin, with major political figures getting involved. Republican presidential candidate, Robert F. Kennedy Jr., has suggested that the nation should acquire millions of BTC to strengthen the US dollar.
Kennedy Jr.’s Vision for Bitcoin as a Strategic Reserve Asset
During the Bitcoin 2024 conference, Kennedy Jr. made a bold statement outlining his plan to make Bitcoin a strategic reserve asset for the US if he wins the presidency. He believes that integrating this digital asset into the country’s financial system could enhance the stability and resilience of the US dollar.
Kennedy Jr. revealed his intention to issue a pro-Bitcoin executive order on his first day in office. This order would instruct the Department of Justice and the US Marshals to transfer the US government’s current holding of approximately 200,000 BTC to the Treasury, where it would be held as a strategic reserve asset.
In addition, he proposed another order requiring the Treasury to acquire around 550 BTC daily until the US accumulates a reserve of at least 4 million BTC, aiming to match the country’s BTC holdings with its gold reserve, which currently represents about 19% of the world’s gold reserve.
Recognizing Bitcoin’s potential, Kennedy envisions BTC becoming an exchangeable asset for real properties. He plans to issue an executive order to the IRS to treat Bitcoin as such once he assumes the presidential role.
Having been engaged with the Bitcoin community, Kennedy emphasized the unity among supporters, drawing parallels to the ideals of America. He sees BTC as a technology that embodies freedom, optimism, independence, democracy, and transparency, describing it as the currency of hope and the perfect currency.
Bitcoin: A Path to American Leadership in Cyberspace
While advocating for Bitcoin as a tool to strengthen the US dollar, Kennedy highlighted that this move could position the country as a leader in cyberspace, ushering in a new era of innovation.
He also mentioned rival presidential candidate Donald Trump’s recent favorable stance on BTC. Kennedy suggested that Trump might propose a plan to authorize the US government to purchase 1 million BTC as a strategic reserve asset, which could benefit the country.
Despite supporting Trump’s potential move, Kennedy hopes that the initiative goes beyond political motives and emphasizes the importance of understanding Bitcoin’s potential to safeguard the US financial system and individuals against cyber threats.