U.S. presidential candidate Robert F. Kennedy Jr. promised to announce several things. Bitcoin Bitcoin
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Kennedy, who is running as an independent, said he would direct the Justice Department and the U.S. Marshals Service to transfer approximately 200,000 bitcoins held by the U.S. government to the Treasury for safekeeping as a “strategic asset.”
Kennedy also told attendees at Bitcoin 2024 in Nashville on Friday that he plans to sign a separate executive order directing the U.S. Treasury to purchase 550 bitcoins per day until the U.S. has a reserve of 4 million BTC. There are about 21 million bitcoins in circulation.
“Our country has about 19% of the world’s gold reserves,” Kennedy continued. “This policy will give us almost the same percentage of all bitcoins. The cascading effect and these actions will ultimately drive bitcoin to a value of hundreds of trillions of dollars.”
Kennedy added that he also plans to sign an executive order directing the Internal Revenue Service to issue guidance stating that “all transactions between bitcoin and U.S. dollars are non-reportable and, by extension, tax-free.”
Kennedy is said to be lagging behind fellow candidates Vice President Kamala Harris and former President Donald Trump. Reuters/Iposite pollWhen voters were shown a sample ballot that included Kennedy, Harris, and Trump, the poll found Harris led Trump 42% to 38%, with Kennedy favored by 8% of voters.
Cryptocurrencies have quickly become a part of the election season landscape, with Republicans expressing support for cryptocurrency companies and investors. platform Including a pledge to end the “illegal and un-American crackdown” on the U.S. cryptocurrency industry for the 2024 election. Meanwhile, Harris’ team Support activities Interest in the cryptocurrency industry has picked up a week after President Joe Biden announced he would not run for reelection and endorsed Harris as the Democratic nominee.
President Trump is scheduled to speak at Bitcoin 2024 on Saturday afternoon.
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About the Author
Sarah is a reporter covering policy, regulation, and legal issues for The Block. Previously, Sarah was a securities regulation reporter at CQ Legal, where she first began reporting on cryptocurrencies. Sarah has also written for other financial publications, including The Bond Buyer and American Banker. She graduated from the University of Missouri with a degree in print and digital journalism. Sarah lives in Washington, D.C., and is an avid coffee drinker. You can follow her on Twitter @ForTheWynn.