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- In the pursuit of establishing Bitcoin as a strategic reserve asset in the US, Kennedy Jr. claimed that Bitcoin would be vital in revitalizing the nation’s economy.
Following his assertive remarks at the Bitcoin 2024 conference in Nashville, United States Presidential candidate and cryptocurrency supporter, Robert F. Kennedy Jr., has once again showcased his steadfast backing for Bitcoin, highlighting its significance in fostering financial liberty and economic stability.
His ongoing promotion of the digital currency reflects his belief in the transformative potential of cryptocurrencies.
Bitcoin To Drive Economic Recovery In The US
In the pursuit of establishing Bitcoin as a strategic reserve asset in the US, Kennedy Jr. claimed that Bitcoin would be vital in revitalizing the nation’s economy. The presidential candidate made this bold assertion during a recent discussion with Coin Stories Podcast host Natalie Brunell.
Given his strong conviction that Bitcoin could be essential in restoring the US economic framework, Kennedy pledged to instruct the Federal Reserve and the Treasury to acquire several million BTC, which would act as the backbone for the American dollar.
This initiative, according to Kennedy, will also facilitate a global recovery of the US dollar, positioning the country as a leader in Bitcoin adoption.
Additionally, the cryptocurrency advocate highlighted Bitcoin’s rapid transaction capabilities that surpass any challenges posed by banking fees or other transaction costs.
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As a result, he believes that BTC could potentially act as a safeguard against inflation, indicating a widespread acceptance of the cryptocurrency globally, which would further bolster the US dollar and alleviate the nation’s difficulties in balancing payments.
Kennedy noted that Bitcoin presents a superior investment option compared to major nations like China, Russia, and Argentina, which face regulatory barriers preventing them from investing in the US.
With global capital flowing into Bitcoin, the presidential candidate aims to elevate the US BTC reserve to approximately 20% of the asset’s total supply.
“That will go from a trillion dollar value to gradually generate $40 trillion a year in interest and value. And that pays off our entire US debt,” he added.
According to Kennedy, this initiative represents a significant measure the US should contemplate to enhance its economy.
Thus, he committed to making this a reality should he emerge victorious in the forthcoming election, labeling the initiative as the revival of the American middle class.
Exit From The Fed Money Printing Machine
Robert F. Kennedy’s support for BTC stems from his strong belief that the cryptocurrency could facilitate transactional freedom. Last week, in an interview on CNBC, Kennedy remarked that BTC is the escape from the Federal Reserve’s money printing machine, suggesting its potential to provide financial autonomy.
It is important to note that the presidential candidate regards transactional freedom as equally significant as freedom of speech.
Consequently, he has stressed the importance of making BTC transactionally accessible so that middle-class individuals and others seeking to shield themselves from economic volatility, such as inflation, can manage their finances effectively.
