At Bitcoin 2024 today, Robert F. Kennedy Jr. threw out some pretty radical ideas about how he plans to integrate Bitcoin into the U.S. economy if he wins the election.

The big plan? Start scooping up Bitcoin daily and use it to strengthen the U.S. financial system. 

Kennedy got this idea to transfer the 204,000 Bitcoin that the Justice Department and U.S. Marshalls have stashed away to the Federal Reserve. 

He calls Bitcoin a “strategic asset,” which he thinks can give the U.S. a big leg up on the global stage. He wants the Treasury Department to buy 500 Bitcoin every day until the reserve hits 4 million BTC. 

He claims this move will put the U.S. in a dominant position, with the Bitcoin stash potentially worth “hundreds of trillions of dollars.”

Shaking up taxes and financial rules with Bitcoin

Kennedy also said he wants to make all Bitcoin-to-dollar transactions nonreportable and nontaxable, which means the IRS wouldn’t get involved. This, he says, would give people “transactional freedom,” kind of like the freedom of speech.

He added that he wants to make Bitcoin eligible for exchange into real property under the 1031 Exchange program, which currently gives tax breaks for real estate deals. 

By including Bitcoin, he’s hoping to kickstart some economic growth and innovation. Kennedy’s basically saying that Bitcoin can help bring the U.S. economy back to the good old days before Nixon took the dollar off the gold standard in the ’70s.

Kennedy called America’s fiat currency a tool for funding wars. He even went as far as to say that a Bitcoin standard could potentially prevent conflicts since you can’t just print Bitcoin to fund a war.

The presidential candidate’s Bitcoin plans also dip into national security. He’s talking about bringing in Space Force Major Jason Lowery as a national security adviser. 

Lowery’s known for some pretty unconventional ideas himself, like seeing Bitcoin as a “cyber-defense system” and a way to project “soft power” in the world.

Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0

PRC Comment Policy

Your comments MUST BE constructive with vivid and clear suggestion relating to the post.

Your comments MUST NOT be less than 5 words.

Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.

Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.

Constructive REPLY to comments is allowed