Kennedy Jr. to back dollar with bitcoin, if elected

Robert F. Kennedy Jr. (RFK Jr.) has been making bold claims about the COVID-19 vaccines and now says he would back the US dollar with bitcoin (BTC).

The Democratic presidential candidate shared his pro-crypto, especially bitcoin, policies in a video recording with Heal The Divide and Bitcoin Magazine. RFK Jr. added that he plans to start “very small” by backing just 1% of the Treasury Bills (T-bills) “by hard currency, by gold, silver platinum or bitcoin.”

The allocation will increase gradually, RFK Jr., the nephew of the 35th US President John F. Kennedy, said.

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Vitalik Buterin shares insights on Ethereum’s account abstraction journey Moreover, he added that the Kennedy administration would encourage using bitcoin while trying to make the US the global crypto hub. RFK Jr. stated using BTC in the country to attract more investments and engineers that would bring innovation.

“Backing dollars and U.S. debt obligations with hard assets could help restore strength back to the dollar, rein in inflation and usher in a new era of American financial stability, peace and prosperity.”

Robert F. Kennedy Jr., Democratic presidential candidate

The 69-year-old politician claims to end the capital gains taxes on bitcoin. He promoted BTC’s self-custody as it ensures citizens’ privacy rights, as he’s against the crypto tax plans of the Biden Administration.

“Non-taxable events are unreportable and that means it will be more difficult for governments to weaponize currency against free speech, which as many of you know, is one of my principal objectives.”

Robert F. Kennedy Jr., Democratic presidential candidate

RFK Jr. has already complimented bitcoin and cryptocurrencies, making headlines on May 19. According to a report on July 7, the presidential candidate owns between $100,000 and $250,000 worth of BTC.

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