Kennedy has proposed an ambitious plan for the federal government to invest in Bitcoin until its reserves match the value of the nation’s gold holdings. This would involve purchasing approximately 9.4 million BTC, which is equivalent to nearly 45% of the total Bitcoin supply. His rationale for this proposal is rooted in his belief that Bitcoin is an “honest currency” that holds intrinsic value comparable to gold.
Kennedy’s statements were made during an interview with Custodia Bank CEO Caitlin Long and YouTuber Scott Melker. He highlighted the unique qualities of Bitcoin, emphasizing its divisibility and its potential to serve as an ideal currency. Additionally, Kennedy expressed his satisfaction with the fact that rival presidential candidate Donald Trump has shown interest in cryptocurrency, particularly Bitcoin.
In further detailing his proposal, Kennedy suggested backing government fiat currency and debt with a basket of hard currencies, including gold, silver, and Bitcoin. He recommended the creation of a new class of Treasury bills that could be gradually anchored to this basket over time. Kennedy’s vision is to decentralize democracy and empower individuals by aligning the currency with tangible assets.
Kennedy believes that investing in Bitcoin not only offers financial benefits but also serves as a means of combatting government corruption. He argues that Bitcoin’s decentralized nature, based on proof-of-work and decentralization, makes it an “honest currency” as there is no central authority governing its transactions. By holding a significant portion of his personal wealth in Bitcoin, Kennedy demonstrates his commitment to the principles of decentralization and personal sovereignty.
Speculation within the crypto community suggests that Donald Trump may unveil a strategic Bitcoin treasury during the ongoing Bitcoin Conference in Nashville. This rumor has created anticipation and excitement among attendees, with the potential for Trump to make a significant policy announcement regarding cryptocurrency. In contrast, rival presidential candidate Kamala Harris has shown less enthusiasm for crypto, indicating a divide in the political landscape regarding digital assets.
Kennedy’s proposal to integrate Bitcoin into the nation’s financial reserves represents a forward-thinking approach to currency diversification and decentralization. By advocating for the inclusion of Bitcoin alongside traditional assets like gold and silver, Kennedy aims to strengthen the integrity of the financial system and empower individuals through cryptocurrency ownership. As the debate around cryptocurrency continues to evolve, Kennedy’s vision offers a fresh perspective on the role of digital assets in shaping the future of finance and governance.
