US presidential candidate Robert F. Kennedy Jr. If elected president, he has promised to issue several Bitcoin-related executive orders on his first day in office. Kennedy, who is running as an independent, made the announcement at the Bitcoin 2024 conference in Nashville on Friday.
Robert Kennedy F. Jr. “I understand that President Trump may announce tomorrow his plan to authorize the US government to purchase one million Bitcoins as a strategic reserve asset, and I applaud that announcement,” he said.
Kennedy detailed his plan to direct the U.S. Department of Justice and the U.S. Marshals Service to turn over approximately 200,000 Bitcoins currently held by the U.S. government to the Treasury Department. He stated that these assets would be held as a “strategic asset”.
Kennedy also announced his intention to sign an executive order instructing the US Treasury to purchase 550 Bitcoins daily until it accumulates a reserve of 4 million BTC. With approximately 21 million Bitcoins in circulation, this policy aims to capture a significant portion of the global Bitcoin supply.
“Our country holds approximately 19% of global gold reserves,” Kennedy said. “This policy will earn us approximately the same proportion of total Bitcoin. This cascading effect and these actions will eventually push Bitcoin to a valuation of hundreds of trillions of dollars.” “
In addition, Kennedy announced his plan to sign an executive order directing the US Internal Revenue Service (IRS) to issue guidance declaring that all transactions between Bitcoin and the US dollar will be considered non-reportable and therefore non-taxable.
*This is not investment advice.