Kennedy Jr. Proposes 550 Daily Bitcoin Purchase Plan for U.S. Economy

Independent presidential candidate Robert F Kennedy Jr Robert F Kennedy Jr Robert Francis Kennedy is an American politician, environmental lawyer, anti-vaccine activist, and conspiracy theorist. He is also the chairman and founder of Children's Health Defense, an anti-vaccine advocacy group. He was born on January 17, 1954. A member of the Kennedy family, he is a son of the U.S. attorney general and Senator Robert F. Kennedy, and a nephew of the U.S. President John F. Kennedy and Senator Ted Kennedy. Kennedy began his career as an assistant district attorney in New York City. In the mid-1980s, later he joined two nonprofits that emphasized environmental protection: Riverkeeper and the Natural Resources Defense Council Other has announced an ambitious plan to integrate Bitcoin into the U.S. economy. He wants to fix what he sees as a broken financial system and society.

Will his plan come to fruition? Let’s dive in.

Kennedy’s Executive Orders: What’s on the Table?

At the Bitcoin2024 conference in Nashville, Kennedy shared his bold proposals for when he becomes president. One major idea is to transfer 204,000 Bitcoins held by the U.S. government to the Federal Reserve. He also plans for the Treasury Department to buy 550 Bitcoins each day until the reserve hits at least 4 million BTC.

Kennedy believes this Bitcoin reserve could give the U.S. economic power like never before. He suggests that its value could reach hundreds of trillions of dollars. His enthusiasm for Bitcoin is similar to former President Donald Trump Donald Trump   Donald J. Trump is a US-based entrepreneur, Pro-crypto Politician, and the 45th and 47th President of the United States of America. He understands the importance and needs of the modern fintech world, and people look up to him as a dominant pro-crypto leader.   Quick Facts   Full name Donald John Trump Birth 14-06-1946, New York, United States Nationality American Education BS from the University of Pennsylvania Known For Businessman, Pro-Crypto Politician   Once doubtful about Bitcoindominance, he said in a tweet in 2019, “I am not a fan of Bitcoin", but now has a significant amount of cryptocurrency holdings in his kitty. He has also signed an Executive Order to establish a Strategic Bitcoin Reserve, which highlights his commitment to the future of cryptocurrency.   Donald Trump - Career Highlights & Events   2016 – Elected as the 45th President of the United States from the Republican Party.   2017 – Signed the Tax Cuts and Jobs Act, impacting investment environments   2019 – Criticized Bitcoin and Libra on X, dubbing them as "not money"   2024 – Campaign signals potential openness to crypto-friendly reforms   2025 –  Elected as the 47th President of the United States from the Republican Party.   A meme coin, $TRUMP, is associated with Donald Trump, which is listed on the Solana blockchain platform. His family also backs World Liberty Financial (WLF), a crypto venture.     President , though Vice President Kamala Harris Kamala Harris Kamala Harris is a well-known American leader who also served as Attorney General in the past. She is the former (49th) Vice President of the United States. She has been known for her vocal stance on cryptocurrency adoption and has been backed by several crypto leaders like Chris Larsen.   While serving as Vice President, she has reached out to crypto firms such as Coinbase and Circle and lawmakers at the White House to help formulate the policy frameworks for cryptocurrency adoption.   All these developments highlight her firm stance to encourage the growth of cryptocurrency in the nation.   Quick Facts   Full name Kamala Devi Harris Birth 20-10-1964, Oakland, California, United States Nationality American Education BA from Howard University Known for Active Politics   Kamala Harris - Career Highlights & Events   2010 – Elected Attorney General of California   2016 – Became U.S. Senator for California   2020 – Elected 49th VP of the United States of America in the general elections   2022 – Supported digital equity and broadband inclusion initiatives   2024 – Advocated tech innovation and responsible AI/crypto regulation   Vice President has not yet shared her views on this topic.

Making Bitcoin Transactions More Attractive

Kennedy wants to make Bitcoin transactions more appealing by making Bitcoin-to-dollar transactions exempt from reporting and taxation by the IRS. He also proposes allowing Bitcoin to be exchanged for real estate under the 1031 Exchange program, which currently encourages investment in property.

Kennedy compares Bitcoin to the First Amendment, believing it could bring back economic freedom similar to how free speech protects individuals. He argues that a Bitcoin standard could return the U.S. economy to its pre-Vietnam War state, before the dollar was taken off the gold standard. Kennedy thinks a Bitcoin system could also prevent wars by stopping the ability to print money for military spending.

Dollar Vs Crypto

Kennedy plans to support U.S. Treasury bills, notes, and bonds with valuable assets, including precious metals and Bitcoin. He hopes this will strengthen the dollar, control inflation, and bring financial stability. He envisions that this could lead to a global move towards an American-backed decentralized currency.

A New Vision for Bitcoin

Kennedy also wants to hire Space Force Major Jason Lowery as a national security adviser. Lowery, who has written about Bitcoin as a “cyber-defense system” and “soft power projection,” would help protect online identities.

Kennedy’s proposals offer a bold vision for Bitcoin in the U.S. financial system, aiming to enhance national security and economic stability. It will be interesting to see if Kennedy or Trump follow through on their Bitcoin-friendly policies. The future of cryptocurrency in American politics is shaping up to be quite fascinating.

Also Read: XRP, ADA and Other Altcoins To Stack Before Trump’s Speech In Nashville

Kennedy’s Bitcoin roadmap promises a radical shift in U.S. financial policy. Will it deliver on its promises or face unexpected hurdles? The journey ahead is sure to be interesting.