Kennedy owns seven figures value of BTC.
Robert F. Kennedy Jr., the U.S. presidential candidate, believes Bitcoin and blockchain expertise might supply options for addressing the U.S. debt disaster.
Talking throughout the Consensus 2024 convention in Texas, Kennedy Jr. reiterated his plan to include Bitcoin into the U.S. debt administration methods of america.
Kennedy advocated for backing the U.S. greenback and U.S. Treasury Payments with a “basket of arduous belongings… together with Bitcoin” to underpin the nation’s Treasury payments. He mentioned anchoring a portion of reserves to arduous foreign money would facilitate better monetary self-discipline, suggesting the allocation might improve over time.
“Finally, I believe the one solution to save the greenback is thru this system that I’ve outlined, which would come with Bitcoin,” Kennedy mentioned. “If that works, transfer to 2% the following 12 months, including a share yearly.”
Kennedy Jr. additionally shared that he personally owns greater than $1.42 million value of BTC.
“Since I began this marketing campaign, I bought 21 Bitcoins,” Kennedy mentioned. “I additionally purchased three cash for every of my youngsters.”
T-Payments and U.S. debt
Treasury Payments are short-term debt securities issued by the U.S. authorities to finance its obligations. They’re offered at a reduction to their face worth and mature on the full face worth, offering traders with a return.
The debt ceiling is the utmost sum of money the U.S. authorities is allowed to borrow. Set by Congress, it controls how a lot debt the nation can tackle to pay its payments. Whereas the U.S. debt ceiling was final set at $31.4 trillion, it’s at the moment suspended till Jan. 1, 2025.
Kennedy Jr. claimed incorporating Bitcoin into the U.S. treasury would inject self-discipline into nationwide spending. Kennedy additionally mentioned he would reduce navy spending, arguing that constructing bombers and missiles doesn’t contribute to financial development.
“The capability to print cash indefinitely is enabling politicians and enabling all our wars,” he mentioned. “The U.S. is now including a trillion {dollars} to the debt each 100 days… “We’re already seeing threats to the function of the American greenback as the worldwide reserve foreign money… Arduous foreign money provides us freedom.”
Kennedy pledges to help blockchain trade
Kennedy additionally pledged to foster america as a worldwide hub for blockchain and digital belongings. He criticized the present administration’s hostility towards Bitcoin, which he believes is driving innovators overseas.
“We have to… be sure America stays the hub of blockchain expertise,” Kennedy mentioned. “We ought to be encouraging really decentralized currencies and the circulation of capital into these currencies. As President, I am going to guarantee cryptocurrencies are regulated in ways in which defend shoppers with out stifling innovation.”
Kennedy famous stiff competitors from current crypto hubs together with Switzerland and Singapore, asserting that he would preside over a permissive regulatory regime with reference to the digital asset trade.
“I’ll finish the hostility from the banking system, the Fed, the regulatory businesses, the FDIC, and the SEC,” Kennedy mentioned.
Kennedy marketing campaign embraces Bitcoin
Kennedy Jr. made headlines by changing into the primary presidential candidate to simply accept Bitcoin for the 2024 election cycle in July 2023. Nevertheless, the U.S. Libertarian Celebration started accepting BTC donations in 2017.
Following Kennedy Jr.’s announcement, different candidates additionally moved to embrace Bitcoin. Vivek Ramaswamy grew to become the second candidate to simply accept Bitcoin.
Even former President Donald Trump’s marketing campaign now accepts numerous cryptocurrencies, together with Bitcoin and Ethereum.
