US Independent presidential candidate Robert F. Kennedy Jr. The US government has announced an ambitious plan to bring its Bitcoin reserves on par with the country's $615 billion gold reserves.
RFK Jr. Proposes $615 Billion Bitcoin Investment to Equal US Gold Reserves
During an interview Wednesday with Custodia Bank CEO Caitlin Long, hosted by YouTuber Scott Melker, Kennedy stated his intention to force the federal government to purchase Bitcoin until its holdings equal the value of U.S. gold reserves.
The United States, the world's largest gold holder, currently holds 8,134 tons of the precious metal worth $615 billion. To achieve this in Bitcoin, it would require approximately 9.4 million BTC, which is approximately 45% of the total Bitcoin supply.
“Bitcoin is an honest currency. It's a proof-of-work currency. Everything is on the ledger, it's decentralized, and that's what we need to do in a democracy,” Kennedy said.
Kennedy's proposal is in line with his broader plan to back the government currency and debt with a basket of hard currencies, including gold, silver, platinum and Bitcoin.
He proposed pegging new U.S. Treasury bonds to this basket, starting at 1% in the first year and gradually increasing to 100% over time.
If this plan is implemented, the USA will become the world's largest owner of Bitcoin. Currently, the largest institutional Bitcoin holder, MicroStrategy, owns 226,331 BTC worth $14.41 billion, while the largest Bitcoin ETF managed by BlackRock controls 334,000 BTC worth $21.73 billion.
*This is not investment advice.
