Robert F. Kennedy Jr Vows To Back The US Dollar With Bitcoin If Elected President

Democratic presidential candidate Robert F. Kennedy Jr. has pledged to progressively support the United States Dollar with Bitcoin (BTC) if elected President.

July 19 Speaking at the Heal-the-Divide PAC eventsKennedy claimed that backing the US dollar with “hard currency” including gold, silver, platinum or bitcoin could help stabilize the US economy again.

“Backing the dollar and US debt obligations with hard assets can help restore dollar strength, rein in inflation, and usher in a new era of US financial stability, peace and prosperity.”

Kennedy explained that the process would be gradual and that depending on the success of the plan, he would adjust the amount of support for the dollar.

“My plan would be to start very, very small; Perhaps 1% of T-bills issued will be backed by hard currency such as gold, silver, platinum or bitcoin,” he said.

Additionally, Kennedy announced that he would exempt the conversion of bitcoins to US dollars from capital gains taxes.

In his view, the proposed exemption would spur investment and encourage enterprises to grow their business in the US instead of other crypto-friendly jurisdictions such as Singapore or Switzerland.

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Kennedy’s latest round of pro-Bitcoin comments comes in the wake of his May 19 appearance at the Bitcoin 2023 conference in Miami, where he announced he would accept political campaign donations in bitcoin.

On July 9, investment disclosures revealed that Kennedy owned $250,000 worth of bitcoin, despite his previous statements where he denied any exposure to the asset.

RFK Jr. is one of several presidential candidates to make sweeping crypto-based promises. On July 14, Republican presidential candidate and Florida governor Ron DeSantis pledged to ban central bank digital currencies if elected president.

“If I’m president, on day one we’ll end central bank digital currency. Complete. dead. That’s not happening in this country,” DeSantis said.

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