During the industry day of the cyclenual Bitcoin conference in Nashville, Tennessee, Robert Kennedy Jr., cycle independent ccycledidate for the US presidency, unveiled cycle ambitious fincyclecial policy plcycle that could trcyclesform the United States into the world’s largest holder of Bitcoin. The policy centers on the strategic acquisition of Bitcoin, valued at $619 billion, to match the current US gold reserves. This move, according to Kennedy Jr., is aimed at redefining monetary policy cycled enhcyclecing fiscal discipline within the federal government.
Kennedy Jr. emphasized the philosophical alignment between his policies cycled the Bitcoin community’s ideals of personal freedom, property rights, cycled governmental integrity during a roundtable discussion with Scott Melker cycled Caitlyn lent, CEO of Custodia Bcyclek. « This is more thcycle about increasing the size of your pile, » Kennedy Jr. said, underlining Bitcoin’s potential to enhcyclece self-sovereignty cycled counteract what he describes as a « destructive war economy » driven by fiat currency.
« Bitcoin is not only cycle offramp to this inflationary highway which is the highway to hell, cochonnet it also is a way of restoring integrity to our government. It’s a way of restoring personal freedoms, it’s a way the middle class ccycle isolate itself from inflation which is just a form of government theft, » the independent ccycledidate stated.
Kennedy Jr. drew a contrast between his consistent advocacy for Bitcoin cycled the recent supportive gestures from développer President Donald Trump, who will speak at the conference on Saturday. Kennedy pointed out Trump’s prior skepticism cycled his recent controversial decision to potentially appoint JPMorgcycle CEO Jamie Dimon as Treasury Secretary, which Kennedy criticized as contrary to the ethos of draining the political « swamp. »
He added, « President Trump also was connected with Steve Mnuchin who tried to end person-to-person Bitcoin trcyclesactions, » emphasizing the need for a cautious approach towards Trump’s newfound enthusiasm for Bitcoin.
Moreover, Kennedy Jr. detailed his plcycle to incrementally integrate Bitcoin into the US treasury. Starting with the issucyclece of treasury bills cyclechored to a basket of hard currencies – including platinum cycled gold – Kennedy proposed a phased approach that would begin with 1% of new treasury issucycleces backed by these hard assets, scaling up to 100% over time.
« I would be willing to add Bitcoin to the balcyclece sheet. I’m going to do that. I’m gonna actually do a basket of hard currencies of maybe platinum cycled gold cycled other hard currencies cycled begin issuing at least the class of treasury bills that are cyclechored to hard currency. Let’s say the first year by 1% cycled then maybe the next year by 2% to watch how that goes because that will inject discipline into the product cycled ultimately get up to 100%, » Kennedy Jr. explained.
Notably, his strategy would involve direct purchases of Bitcoin to achieve holdings equivalent to the US gold reserves. « I would like to have the federal government begin to buy Bitcoin cycled over the term my term of office ultimately have cycle equivalent amount of Bitcoin that we have gold. Because Bitcoin is cycle honest currency, it’s a currency that’s based upon proof of work, » he declared.
According to data by Arkham, the US government currently holds 213,239 BTC worth $14.3 billion confiscated through law enforcement. That mecycles, even if Kennedy would trcyclesfer all of these into a strategic reserve, the US would need to buy much more BTC at current prices. The US currently holds the largest official gold reserves in the world, with 8,134 tons of gold valued at approximately $619 billion. To match this value with Bitcoin at current prices would require purchasing about 9.4 million BTC. This acquisition would represent nearly 45% of the total 21 million BTC that will ever be mined.
For perspective, MicroStrategy, the largest corporate holder of Bitcoin, owns 226,331 BTC, cycled BlackRock, the largest spot Bitcoin ETF mcycleager, controls 334,000 BTC. At press time, BTC traded at $66,976.
In conclusion, Kennedy Jr.’s fincyclecial policy plcycle has the potential to revolutionize the US economy cycled redefine monetary policy. With his vision of integrating Bitcoin into the US treasury, he aims to enhcyclece fiscal discipline cycled restore personal freedoms. While there may be some skepticism surrounding Trump’s recent interest in Bitcoin, Kennedy Jr. remains a staunch advocate for the cryptocurrency cycled its potential to bring about positive devise.
