Here is Kennedy’s Bold Plan to Integrate Bitcoin in the U.S. Economy

At the Bitcoin 2024 conference, Robert F. Kennedy Jr. outlined a bold vision for integrating Bitcoin into the U.S. economy if elected president.

Kennedy’s primary proposal involves daily purchases of Bitcoin to bolster the nation’s financial stability. He suggested reallocating the 204,000 Bitcoin currently held by the Justice Department and U.S. Marshals to the Federal Reserve.

Kennedy views Bitcoin as a key asset that could enhance the U.S.’s global economic position. His plan includes the Treasury Department buying 500 Bitcoin each day until the reserve reaches 4 million BTC, potentially valuing the reserve in the “hundreds of trillions of dollars.”

Additionally, Kennedy proposed making Bitcoin-to-dollar transactions nonreportable and nontaxable to encourage “transactional freedom” akin to free speech. He also wants Bitcoin to qualify for real property exchanges under the 1031 Exchange program to spur economic growth.

Kennedy criticized the current fiat currency system for its role in funding wars, suggesting that a Bitcoin standard could limit such conflicts since Bitcoin cannot be produced at will.

For national security, Kennedy plans to involve Space Force Major Jason Lowery, who advocates for Bitcoin as a “cyber-defense system” and a means of exerting “soft power” on the global stage.