$615 Billion in Bitcoin Would Be Bought by the Government, According to RFK Jr. 😮

Robert F. Kennedy Jr. Proposes U.S. Bitcoin Reserve to Match Gold Holdings 🪙

Imagine a scenario where the U.S. government decides to buy Bitcoin until its BTC holdings equal the nation’s gold reserves. Robert F. Kennedy Jr., an independent presidential candidate, recently floated this bold idea during an interview. Here’s a breakdown of his proposal:

The Vision: Equalizing Bitcoin and Gold Holdings 🌟

Kennedy envisions the U.S. government amassing Bitcoin until its value matches the nation’s substantial gold reserves, which currently stand at $615 billion.

Current gold holdings: 8,134 tons
Value of gold holdings: $615 billion

To achieve the goal, approximately 9.4 million BTC would be required at the current market price.
This move would represent nearly 45% of the total Bitcoin supply that will ever be mined.

Bitcoin as the Currency of Honesty 💰

Kennedy shares his view that Bitcoin is an honest form of currency.
He praises its decentralized nature, proof of work system, and transparent ledger.
The potential shift aligns with Kennedy’s broader strategy of supporting government currency and debt with a mix of hard currencies including gold, silver, platinum, and BTC.

Government’s Role in Bitcoin Investment 🏦

Kennedy proposes a gradual approach to integrating Bitcoin into the nation’s financial framework.

He suggests anchoring a new class of U.S. Treasury bills to the currency basket.
Initially, 1% of the basket would be linked to hard currencies, with the percentage increasing gradually over time.

The massive Bitcoin acquisition would specifically occur during Kennedy’s first term in office.
By the end of his tenure, Kennedy envisions the U.S. government holding an amount of Bitcoin equivalent to its gold reserves.

The Potential Impact on Bitcoin Ownership 📈

If Kennedy’s proposal materializes, the United States could become the largest holder of BTC globally.
For context, MicroStrategy currently owns 226,331 BTC, while BlackRock’s Bitcoin ETF controls 334,000 BTC.
An acquisition plan of this scale would position the U.S. as a dominant force in the Bitcoin market and potentially drive significant value growth for the cryptocurrency.

Decentralization and Democracy 🗳️

Kennedy emphasizes the importance of decentralization as a means to preserve democracy.
He views Bitcoin as a key enabler of this decentralization due to its inherent transparency and lack of centralized control.
Additionally, Kennedy has pledged to eliminate capital gains taxes on Bitcoin, aiming to bolster the industry’s presence in the United States.

Hot Take: The Future of Bitcoin in U.S. Politics ⚡

As the conversation around Bitcoin’s role in national economies continues to evolve, Robert F. Kennedy Jr.’s bold proposal to align U.S. Bitcoin holdings with its gold reserves sparks intrigue and speculation. The potential implications of such a move could reshape the cryptocurrency landscape and position the United States as a major player in the global Bitcoin market.