During the Bitcoin conference’s industry day in Nashville, Tennessee, Robert Kennedy Jr., an independent presidential candidate, unveiled a bold plan to make the United States the largest holder of Bitcoin globally. His proposal involves acquiring Bitcoin worth $619 billion, equivalent to the current US gold reserves. This strategic move aims to reshape monetary policy and reinforce fiscal discipline within the federal government.
Kennedy Jr. discussed his policy in a roundtable with Scott Melker and Caitlyn Long, CEO of Custodia Bank. He highlighted the alignment of his policies with Bitcoin’s values of personal freedom and governmental integrity, criticizing the current fiat currency system as a “destructive war economy.” He argued that Bitcoin could counteract inflation and restore government integrity, contrasting his consistent Bitcoin advocacy with former President Donald Trump’s recent supportive gestures.
Kennedy Jr. criticized Trump’s past skepticism and the controversial potential appointment of JPMorgan CEO Jamie Dimon as Treasury Secretary. He emphasized Trump’s previous attempts to limit Bitcoin transactions and urged caution regarding Trump’s newfound enthusiasm.
Kennedy Jr. outlined a phased plan to integrate Bitcoin into the US Treasury, starting with 1% of new treasury issuances backed by hard assets and increasing over time. He proposed that the government directly purchase Bitcoin to match its gold reserves, requiring roughly 9.4 million BTC. Currently, the US holds 213,239 BTC, valued at $14.3 billion, necessitating substantial additional purchases to reach the goal.