RFK Jr. Proposes the Federal Government Should Buy Bitcoin Until Its Holdings Match the Value of the Nation's Gold Reserves-web3.0-php.cn

RFK Jr. Proposes the Federal Government Should Buy Bitcoin Until Its Holdings Match the Value of the Nation's Gold Reserves

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Jul 27, 2024 pm 03:31 PM

BitcoinRFK Jr. US Gold Reserves

US gold reserves are currently around 8,133 tonnes, which is worth around $615 billion. So, this amount of Bitcoin would equate to roughly 9.4 million BTC

RFK Jr. Proposes the Federal Government Should Buy Bitcoin Until Its Holdings Match the Value of the Nation's Gold Reserves

Kennedy proposes that the federal government should continue buying Bitcoin until its holdings match the value of the nation’s gold reserves.

This would equate to around 9.4 million BTC, which is almost 45% of the total supply.

His comments came in an interview this week with Custodia Bank CEO Caitlin Long and YouTuber Scott Melker.

Kennedy is a big fan of Bitcoin and has previously stated that he believes it was designed to replicate the intrinsic value of gold.

He also said that he is happy that Trump has pivoted to crypto and hopes to see him speak about it at the Bitcoin Conference.

Kennedy added that he plans to back government fiat currency and debt with a basket of hard currencies, including gold, silver, and BTC.

He also suggested a new class of Treasury bills that could be anchored to that basket by 1% in the first year, 2% in the second year, and ultimately 100% over time.

Kennedy is running for president on a platform of decentralization and anti-corruption, and he believes that Bitcoin can help to achieve these goals.

“If we want to save our democracy, we need to decentralize it,” he said before adding that Bitcoin is honest “because there is nobody in charge.”

“Americans who are buying Bitcoin understand that there’s a real link to ending government corruption, to property rights, to personal freedoms, to self-sovereignty, to decentralization … all the things that we care about.”

“A lot of my personal net wealth is now in Bitcoin because I just love the beauty of it,” he concluded.

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