Fun

RFK Jr. promises BTC strategic reserve, dollar backed by hard assets

News Feed - 2024-07-27 08:07:18

Derek Andersen53 minutes agoRFK Jr. promises BTC strategic reserve, dollar backed by hard assetsThe presidential hopeful gave Bitcoin eloquent praise as a future support for the US economy and way to fix broken American money and society.372 Total views39 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksIndependent presidential candidate Robert F. Kennedy Jr. praised the role Bitcoin could play in improving the US economy and the American way of life as he spoke to an audience at the Bitcoin2024 event on July 26. He promised to sign a number of executive orders on his first day in office to begin the process.Bitcoinization by executive order


Kennedy would sign an order requiring the Justice Department and US Marshalls to transfer the 204,000 Bitcoin held by the United States to the Federal Reserve to be held as a “strategic asset,” he said. Furthermore, Kennedy said he would also order the Treasury Department to purchase of 500 Bitcoin (BTC) daily until the reserve reaches at least 4 million BTC.


The United States would attain “a position of dominance no other country will be able to usurp” and its Bitcoin reserve would eventually reach a value of “hundreds of trillions of dollars,” he promised.Source: Autism Capital


In addition, Kennedy would order all transactions between Bitcoin and the dollar to be nonreportable and nontaxable by the Internal Revenue Service (IRS). He would also order the IRS to treat Bitcoin as eligible for exchange into real property under the 1031 Exchange program that provides incentive for real estate investment.


Related: ‘Cast a vote, but don’t join a cult’ — Edward Snowden at Bitcoin 2024Bitcoin advantages go beyond the economy


“Transactional freedom [is] as important as freedom of expression in the 1st Amendment,” Kennedy said, and Bitcoin can provide that freedom and help restore the United States economy to its condition before President Richard Nixon took the US dollar off the gold standard to fund the Vietnam war. Kennedy said:“Fiat currency was invented to fund war. […] If the world was on a BTC standard, there would be no more war because you can’t print Bitcoin.”


Kennedy would hire Space Force Major Jason Lowery as a national security adviser. Lowery is known for the thesis he wrote at the Massachusetts Institute of Technology that described Bitcoin as a “cyber-defense system” and “soft power projection” that would the online identities in cyberspace.


Kennedy would back US Treasury bills, notes and bonds with hard assets, including precious metals and Bitcoin to strengthen the dollar, rein in inflation and usher in a new era of financial stability. Then, “the world will rush to back an American-backed decentralized currency,” he said.


Magazine: Hyperbitcoinization is underway, RFK seeks Bitcoin donations and other news: Hodler’s Digest, May 14-20# Bitcoin# Bitcoin Price# United States# ElectionsAdd reaction

News Feed

Altcoins Set For $627 Billion Inflow As Altseason Prepares For Takeoff
Este artículo también está disponible en español. After recent robust bullish performances by several altcoins, multiple analysts have tipped the altseason to have begun,
Apple reportedly courting OpenAI to develop AI features for iPhone
Tristan Greene7 hours agoApple reportedly courting OpenAI to develop AI features for iPhoneThe Cupertino company is also considering a partnership with Google.2306 Total views13 Total sharesNewsOwn this piece of crypto h
Jamie Dimon bashes partisan politics in presidential election op-ed
Tristan Greene3 hours agoJamie Dimon bashes partisan politics in presidential election op-edThe JPMorgan boss didn’t mention any candidates by name, but his message left little doubt about whom he was referring to.5926
California DMV building blockchain on Avalanche for title transfers
Alex O’Donnell5 hours agoCalifornia DMV building blockchain on Avalanche for title transfersThe DMV has successfully digitized 42 million car titles on the Avalanche blockchain.1246 Total views1 Total sharesListen to a
SEC Working With CFTC on Crypto Regulation, Says Chairman Gensler
SEC Working With CFTC on Crypto Regulation, Says Chairman Gensler The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, says the securities regulator is
Solana Rebound To $900 Is Coming, But This Resistance Stands In The Way
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Jesse Coghlan6 hours agoSBF denies witness tampering amid leak of ex-girlfriend’s diaryLawyers for Sam Bankman-Fried claim that his alleged sharing of Caroline Ellison"s diary with the New York Times does not amount to
Tom Mitchelhill7 hours agoFTX reboot on the way: CEO holds talks with ‘interested parties’ — ReportFTX is inching closer to a potential reboot, with CEO John Ray reportedly opening up the floor to bidders looking t
ECB Hikes Interest Rates by 50bps; Signals Need for Further Hikes to Fight Inflation
ECB Hikes Interest Rates by 50bps; Signals Need for Further Hikes to Fight Inflation The European Central Bank (ECB) decided to hike three of its key interest rates by 50 basis poi
Binance to Drop USDC Trading Pairs, Plans to Auto-Convert Specific Stablecoin Balances to BUSD
Binance to Drop USDC Trading Pairs, Plans to Auto-Convert Specific Stablecoin Balances to BUSD The world’s largest cryptocurrency trading platform by trade volume, Binance,
ByBit exchange halts operations in France
Vince Quill1 hour agoByBit exchange halts operations in FranceByBit has been at odds with the Autorité des Marchés Financiers (AMF) since 2022 when the regulator blacklisted the exchange.485 Total views3 Total sharesLi
Dubai Customs launches blockchain platform amid smart city effort
Brayden Lindrea4 hours agoDubai Customs launches blockchain platform amid smart city effortDubai Customs hopes the blockchain solution will facilitate tamper-proof data sharing, save time and effort and reduce voluminous