Robert F. Kennedy Jr Will Support the US Dollar with Bitcoin if Elected President

RFK Jr to Back US Dollar with Bitcoin if Elected President

Author: TOM MITCHELHILL, COINTELEGRAPH; Translation: Song Xue, LianGuai

Democratic presidential candidate Robert F. Kennedy Jr. has pledged to gradually support the US dollar with Bitcoin if elected president.

Kennedy claimed during a speech at a political action committee’s bridging the divide event on July 19 that supporting the US dollar with what he calls “hard assets” (including gold, silver, platinum, or Bitcoin) could help stabilize the US economy.

“Supporting the US dollar and US debt with hard assets can help restore the strength of the dollar, curb inflation, and create a new era of financial stability, peace, and prosperity in the United States.”

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Kennedy explained that this process would be gradual, and depending on the success of the plan, he would adjust the amount of support for the US dollar.

“My plan is to start on a small scale; perhaps 1% of the Treasury bonds already issued will be supported by hard assets, including gold, silver, platinum, or Bitcoin,” he said.

In addition, Kennedy announced that he would exempt Bitcoin-to-dollar exchanges from capital gains tax.

He believes that the proposed exemption will stimulate investment and encourage businesses to develop in the United States rather than in other cryptocurrency-friendly jurisdictions such as Singapore or Switzerland.

Kennedy’s latest remarks supporting Bitcoin come after he announced that he would accept Bitcoin campaign donations following his attendance at the Miami Bitcoin 2023 conference on May 19.

On July 9, an investment disclosure revealed that Kennedy owns up to $250,000 worth of Bitcoin, despite his previous statements denying any exposure to the asset.

Robert F. Kennedy Jr. is one of several presidential candidates who are expected to make comprehensive commitments based on cryptocurrency. On July 14, Republican presidential candidate and Florida Governor Ron DeSantis pledged to ban central bank digital currencies if elected president.

“If I’m president, we will abolish central bank digital currencies on the first day. That will not happen in this country,” DeSantis said.

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