RFK Jr.'s Bitcoin Presidency: Daily Purchases, Nonreportable Transactions, and Space Force Cyber Defense

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

Robert F. Kennedy Jr. has unveiled an ambitious plan to propel Bitcoin into the heart of the U.S. economy if he wins the 2024 presidential election, envisioning daily government purchases of the apex crypto to strengthen the nation’s financial stability.

Kennedy’s grand scheme was outlined at the Bitcoin 2024 conference in Miami on Thursday. The son of the late U.S. Attorney General Robert F. Kennedy proposed shifting the 204,000 Bitcoin currently held by the Justice Department and U.S. Marshals into the Federal Reserve.

His vision for Bitcoin extends beyond the legal tender status it currently holds in several states. Kennedy sees Bitcoin as a strategic asset that could bolster the U.S.’s global economic standing.

Kennedy outlined a plan for the Treasury Department to spearhead daily purchases of 500 Bitcoin, continuing until the U.S. reserve reaches 4 million BTC. At current prices, that would put the value of the reserve in the “hundreds of trillions of dollars.”

Moreover, Kennedy proposed exempting Bitcoin-to-dollar transactions from reporting and taxation to foster “transactional freedom” comparable to freedom of speech. He also aims to include Bitcoin in the 1031 Exchange program, allowing it to be exchanged for other real property to stimulate economic growth.Kennedy took aim at the current fiat currency system, highlighting its role in funding wars. He suggested that a Bitcoin standard could inherently limit such conflicts since Bitcoin, unlike fiat, cannot be produced at will.

For national security, Kennedy plans to enlist Space Force Major Jason Lowery, who notably advocates for Bitcoin as a “cyber-defense system” and a tool for exerting “soft power” on the world stage

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