Bitcoin

Robert F. Kennedy Jr. reveals plans to back the us dollar with Bitcoin

Published

1 year ago

July 19, 2023

Democratic presidential candidate Robert F. Kennedy Jr. also known as RFK has revealed plans to rein in inflation by backing the US dollars with Bitcoin if he is elected president. Robert F. Kennedy Jr. is the nephew of the 35th president of the United States, John F. Kennedy. He has been vocal in sharing his views on the crypto industry.

He promised this while speaking at a July 19 2023 Heal-the-Divide PAC event Kennedy said:

“Backing dollars and U.S. debt obligations with hard assets could help restore strength back to the dollar, rein in inflation and usher in a new era of American financial stability, peace and prosperity.”

These hard assets or currencies include Bitcoin, gold, platinum, and silver.

Kennedy says that he would like to start gradually by backing just 1% of the issued U.S. dollar bills with Bitcoin or other hard currencies. He further stated that Bitcoin conversions to dollars would be exempt from capital gains taxes under his tenure, as he aims to create a conducive crypto investment environment in the U.S..

Kennedy’s most recent set of pro-Bitcoin remarks follows his attendance at Miami’s Bitcoin 2023 conference on May 19, where he declared that he would take Bitcoin contributions for his political campaigns.

Kennedy’s financial disclosures revealed that he had up to $250,000 worth of Bitcoin as of July 9, contradicting earlier claims.

RFK is one of the presidential candidates who make broad crypto-based pledges. On the other hand Ron DeSantis, a Republican presidential hopeful and governor of Florida, declared on July 14, 2023, that if he is elected president, he will outlaw central bank digital currencies.

“If I were to become president, we would prohibit central bank digital currency right now. Done. Dead. Not in our nation,” DeSantis declared.