RFK Jr. Vows U.S. Bitcoin Holdings Match $615 Billion Gold

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As a seasoned financial analyst with over two decades of experience in the industry, I find Kennedy’s proposal to be an intriguing and potentially game-changing development for both the Bitcoin market and the broader financial landscape. Having witnessed the meteoric rise of digital currencies in recent years, I am particularly interested in this bold move by Kennedy to integrate Bitcoin into the U.S. economy on such a grand scale.

Kennedy declared, “This is a trustworthy currency, it relies on proving work, every transaction is recorded, it operates without a central authority – this is what we should aim for in our democratic system.”

Kennedy’s proposal includes the introduction of a new line of U.S. Treasury bonds, backed by gold, silver, platinum, and Bitcoin. Initially, just 1% of the bonds’ funding will come from these assets. However, the percentage is set to increase gradually until the bonds are fully funded in the future.

As an analyst, I would put it this way: With the proposed acquisition, the U.S. would surpass other major institutional investors, such as MicroStrategy and BlackRock, and become the world’s largest Bitcoin holder. Currently, these two entities hold significant amounts of Bitcoin, with MicroStrategy possessing approximately 226,331 coins and BlackRock holding around 334,000 coins.

The US government’s investment in Bitcoin and Kennedy’s promise to abolish capital gains taxes on it could significantly boost Bitcoin’s price, fostering a thriving American Bitcoin economy.

Kennedy’s proposal seeks to position the United States as a significant force in the global cryptocurrency scene, thereby increasing the use of Bitcoin and incorporating digital currencies into our economic system.

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2024-07-26 09:24