1. BITBILIHome
  2. Article

Robert F. Kennedy Jr. plans to back the dollar with Bitcoin if elected as president in 2024

• 197 views

TL;DR Breakdown

  • Robert F. Kennedy Jr. has shared his vision to progressively back the US dollar with Bitcoin if he is elected president to help re-stabilize the economy
  • Kennedy Jr. will also make exemptions for Bitcoin to USD conversions.
  • The presidential candidate has been a vocal bitcoin supporter

Description

Robert F. Kennedy Jr. has shared his vision to progressively back the US dollar with Bitcoin if he is elected president. RFK Jr. asserted in a speech at a Heal-the-Divide PAC event on July 19 that supporting the dollar with what he said was “hard currency,” such as gold, silver, platinum, or Bitcoin, may assist … Read more

Robert F. Kennedy Jr. has shared his vision to progressively back the US dollar with Bitcoin if he is elected president. RFK Jr. asserted in a speech at a Heal-the-Divide PAC event on July 19 that supporting the dollar with what he said was “hard currency,” such as gold, silver, platinum, or Bitcoin, may assist in re-stabilizing the American economy.

RFK Jr. acknowledged that the process would be gradual and would change the dollar’s backing based on how well the plan worked. For example, it could start small with 1% of T-bills issued backed by hard currency like Bitcoin, gold, platinum, or silver. In addition, he will make exemptions for BTC to USD conversions.

According to the presidential candidate, the exemption will increase investments and incentivize ventures to develop their business in the United States instead of other crypto-friendly jurisdictions like Singapore, Germany, and Switzerland. He explained further that non-taxable events are unreportable hence increasing difficulty when it comes to governments weaponizing currency against free speech, a top principal objective he values.

RFK Jr. accepting Bitcoin for political gifts

RFK Jr.’s recent comments come a few months after he attended the Miami Bitcoin 2023 conference on May 16. During his speech, he announced that he would accept Bitcoin contributions for his political campaigns. While he said that he had no BTC investments, this was debunked later. 

A record obtained on July 9 later showed that he owned up to $250,000 worth of BTC. While the report did not specify when the purchase dates for the crypto, it did show that it had only earned an income of less than $201 over the investment period. 

While it still is unclear why he made comments that did not reflect his investment in BTC, there were some speculations. One was that if he was to promote BTC during his campaign and his immediate family had crypto, it would be considered a conflict of interest. However, his campaign manager Kucinich denied these claims, saying there was no conflict. 

In the past, RFK Jr. has been a vocal bitcoin supporter saying that the crypto, just like other cryptocurrencies, provided an escape from the financial crisis. He is one of the officials making promises related to cryptocurrencies. Ron DeSantis, a Republican presidential candidate and governor of Florida, declared on July 14 that if elected president, he would ban central bank digital currencies.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Robert F. Kennedy Jr. plans to back the dollar with Bitcoin if elected as president in 2024

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年7月20日 03:43
Next 2023年7月20日 05:09

Related articles

  • SEC granted extention to respond to Coinbase’s defense in landmark legal battle

    TL;DR Breakdown The SEC has been granted a two-week extension to prepare its response to Coinbase’s legal defense. Coinbase filed a motion for judgment on the pleadings and submitted a detailed answer to the SEC’s complaint. The court rescheduled the pre-trial conference to a pre-motion conference and the SEC’s response will be presented on July 13. The outcome of the case holds implications for the crypto industry and regulatory frameworks. Description The United States Securities and Exchange Commission (SEC) has been granted an extension of two weeks to prepare its response to Coinbase‘s legal defense. According to a court order issued on Thursday, the SEC will present its response on July 13. In a recent filing, the SEC requested a three-business-day extension to adequately address the … Read more The United States Securities and Exchange Commission (SEC) has been granted an extension of two weeks to prepare its response to Coinbase‘s legal defense. According to a court order issued on Thursday, the SEC will present its response on July 13. In a recent filing, the SEC requested a three-business-day extension…

    Article 2023年7月3日

  • Bittrex CEO forecasts crypto-TradFi integration in 5 years

    TL;DR Breakdown Bittrex Global’s CEO, Oliver Linch, suggests that cryptocurrency should position itself as a unique component within traditional finance (TradFi). He criticizes the tendency to analyze crypto from the perspective of traditional financial structures, arguing for the recognition of its distinct nature. Linch envisions a future where cryptocurrencies seamlessly integrate into traditional finance within 5 to 10 years. In an intriguing forecast, Oliver Linch, CEO of cryptocurrency exchange Bittrex Global, has suggested that the cryptosphere should position itself as a unique facet within traditional finance (TradFi), rather than attempting to mold itself into pre-existing financial forms. Linch’s comment comes on the heels of the U.S. branch of the company filing for Chapter 11 bankruptcy, stressing that this would not affect the global operations. Cryptocurrency: An integral component of traditional finance Linch presented these remarks at the recent Bitcoin Miami event, where he underscored that in many jurisdictions, the U.S. included, regulators tend to understand and evaluate cryptocurrencies from the perspective of conventional financial structures. According to Linch, this viewpoint is counterproductive, as it diminishes the innovative potential of the…

    Article 2023年5月20日

  • PayPal PYUSD Stablecoin is 100% Backed – Reports

    TL;DR Breakdown The report affirms that PYUSD is fully collateralized with assets. In addition to Treasury-backed assets, Paxos disclosed that it held $1,500,146 in fiat currency within insured depository institutions as cash deposits. This transparency report comes on the heels of Paxos and PayPal’s joint launch of PYUSD. Description Paxos, the stablecoin issuer, has taken a significant step in enhancing transparency within the cryptocurrency industry by releasing the inaugural transparency report for its Ethereum-based stablecoin, PayPal USD (PYUSD). This report affirms that PYUSD is fully collateralized with assets, underlining its commitment to maintaining the stability and integrity of this digital currency. The transparency report, … Read more Paxos, the stablecoin issuer, has taken a significant step in enhancing transparency within the cryptocurrency industry by releasing the inaugural transparency report for its Ethereum-based stablecoin, PayPal USD (PYUSD). This report affirms that PYUSD is fully collateralized with assets, underlining its commitment to maintaining the stability and integrity of this digital currency. The transparency report, which covers data up to August 31, 2023, provides a comprehensive overview of the assets backing PYUSD and…

    Article 2023年9月14日

  • Ripple Chief Legal Officer opposes SEC’s interlocutory appeal move

    TL;DR Breakdown Ripple Labs opposes SEC’s appeal for interlocutory review in the ongoing case. Chief Legal Officer highlights the court’s stance on resolving issues before appeal. SEC determined to pursue the interlocutory appeal to address partial setback. Description Ripple Labs has taken a firm stance against the Securities and Exchange Commission’s (SEC) recent move, aiming to secure an interlocutory appeal following a summary judgment order in an ongoing case that has sent ripples through the cryptocurrency industry. The company’s Chief Legal Officer, Stuart Alderoty, expressed the company’s opposition to the social media platform … Read more Ripple Labs has taken a firm stance against the Securities and Exchange Commission’s (SEC) recent move, aiming to secure an interlocutory appeal following a summary judgment order in an ongoing case that has sent ripples through the cryptocurrency industry. The company’s Chief Legal Officer, Stuart Alderoty, expressed the company’s opposition to the social media platform formerly known as Twitter. Alderoty highlighted the court’s assertion that no extraordinary circumstances justified departing from the rule that mandates the resolution of all issues pertaining to all parties…

    Article 2023年8月17日

  • Crypto community slams the upcoming crypto tax law

    TL;DR Breakdown The crypto community has shown concern about the newly proposed crypto tax rule. Prominent industry figures fear the impact on innovation and growth. Description The recent announcement of new crypto tax reporting rules by U.S. President Joe Biden has triggered strong criticism from several well-known voices in the crypto community. The Internal Revenue Service (IRS) proposed on August 25 that brokers adhere to stricter guidelines for the sale and trade of digital assets. This move, aimed at curbing tax … Read more The recent announcement of new crypto tax reporting rules by U.S. President Joe Biden has triggered strong criticism from several well-known voices in the crypto community. The Internal Revenue Service (IRS) proposed on August 25 that brokers adhere to stricter guidelines for the sale and trade of digital assets. This move, aimed at curbing tax evasion, would involve the introduction of a new form to simplify tax filings and deter fraudulent activities. Critics warn of the impact on the industry in the US According to the U.S. Department of the Treasury, the intent behind these proposed…

    Article 2023年8月27日
TOP