According to RFK Jr., he would utilize Bitcoin to support the U.S. dollar and exclude Bitcoin income from capital gains taxes if he was elected president.
Kennedy stated that supporting the U.S. dollar with defined “hard currency,” such as gold, silver, platinum, or Bitcoin, could aid in re-stabilizing the American economy while speaking at a Heal-the-Divide PAC event on July 19.
He also indicated that the process would be slow and that he would change the dollar’s backing based on how well the scheme worked.
“My plan would be to start very, very small, perhaps 1% of issued T-bills would be backed by hard currency, by gold, silver platinum or bitcoin, “Kennedy said, outlining his plan for bringing back the U.S.’s hard currency standard.
He thought that the proposed exemption would encourage investment and encourage companies to expand their operations in the United States rather than in other countries that were more welcoming to cryptocurrencies, such as Singapore or Switzerland.
Following his attendance at Miami’s Bitcoin 2023 conference on May 19, where he declared that he would accept Bitcoin contributions for his political campaigns, Kennedy has since made more pro-Bitcoin statements. Despite his previous claims, in which he denied having any exposure to the asset, financial disclosures on July 9 revealed that Kennedy held up to $250,000 worth of Bitcoin.
Many candidates for president have made broad pledges based on cryptocurrencies, including RFK Jr. On July 14, Republican presidential candidate and governor of Florida Ron DeSantis made a campaign pledge that, if elected, he would ban central bank digital currencies.
In his statement, DeSantis said, “If I am the president, on day one, we will nix central bank digital currency. Done. Dead. Not happening in this country.”
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