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 occasion, Kennedy claimed that backing the U.S. greenback with what he known as “arduous 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 arduous belongings might assist restore power 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 can be gradual and that, relying on the plan’s success, he’d modify the quantity of backing for the greenback.
“My plan can be to begin very, very small; maybe 1% of issued T-bills can be backed by arduous forex, by gold, silver, platinum or Bitcoin,” he stated.
Moreover, Kennedy declared he would make Bitcoin to U.S. greenback conversions exempt from capital positive aspects 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 akin to Singapore or Switzerland.
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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 settle for political marketing campaign donations in Bitcoin.
On July 9, funding disclosures discovered that Kennedy owned as much as $250,000 value of Bitcoin, regardless of his earlier statements the place he denied having any publicity to the asset.
RFK Jr. is certainly one of 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 stated.
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