Robert F. Kennedy Jr. vows to back US dollar with Bitcoin if elected president


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Democratic presidential candidate Robert F. Kennedy Jr. has promised to progressively again the USA greenback with Bitcoin (BTC) if he’s elected president. 

Talking at a July 19 Heal-the-Divide PAC event, Kennedy claimed that backing the U.S. greenback with what he known as “onerous forex,” together with gold, silver, platinum or Bitcoin, might assist to re-stabilize the American financial system.

“Backing {dollars} and U.S. debt obligations with onerous belongings might assist restore energy again to the greenback, rein in inflation and usher in a brand new period of American monetary stability, peace and prosperity.”

Kennedy defined the method could be gradual and that, relying on the plan’s success, he’d alter the quantity of backing for the greenback.

“My plan could be to start out very, very small; maybe 1% of issued T-bills could be backed by onerous forex, by gold, silver, platinum or Bitcoin,” he mentioned.

Moreover, Kennedy declared he would make Bitcoin to U.S. greenback conversions exempt from capital features taxes.

In his view, the proposed exemption would spur funding and incentivize ventures to develop their enterprise within the U.S. as a substitute of different crypto-friendly jurisdictions corresponding to Singapore or Switzerland.

Associated: Jack Dorsey tips pro-crypto candidate Robert Kennedy to win presidency

Kennedy’s newest spherical of pro-Bitcoin feedback come within the wake of his look at Miami’s Bitcoin 2023 convention on Could 19 the place he introduced that he would accept political campaign donations in Bitcoin.

On July 9, funding disclosures discovered that Kennedy owned up to $250,000 worth of Bitcoin, regardless of his earlier statements the place he denied having any publicity to the asset.

RFK Jr. is one in all many presidential hopefuls to make sweeping crypto-based guarantees. On July 14, Republican presidential candidate and Florida Governor Ron DeSantis promised to ban central financial institution digital currencies if elected president.

“If I’m the president, on day one, we’ll nix central financial institution digital forex. Performed. Useless. Not occurring on this nation,” DeSantis mentioned.

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