Kennedy is proposing a bold idea – for the federal government to purchase Bitcoin until its value matches the nation’s gold reserves. This would mean acquiring approximately 9.4 million BTC, or 45% of the total Bitcoin supply. His belief is that Bitcoin is an “honest currency” that should be treated with the same regard as gold. He sees Bitcoin as a unique invention that replicates the intrinsic value of gold, but with the added benefit of being infinitely divisible, making it an ideal currency.
Kennedy also envisions a shift in how the government backs its fiat currency and debt. He suggests backing them with a basket of hard assets, including gold, silver, and Bitcoin. His proposal includes the creation of a new class of Treasury bills that would gradually be anchored to this basket over time. He believes that decentralization is key to saving democracy and views Bitcoin as a tool for achieving this goal.
Kennedy praises Bitcoin for being an “honest currency” due to its proof-of-work mechanism and decentralized nature. He highlights the importance of nobody being in charge of Bitcoin, making it a trustworthy form of currency. He believes that Americans who invest in Bitcoin are aligned with values such as ending government corruption, upholding property rights, preserving personal freedoms, and promoting individual sovereignty.
Kennedy’s admiration for Bitcoin goes beyond just policy proposals. He reveals that a significant portion of his personal wealth is invested in Bitcoin because he finds its beauty and qualities appealing. This personal connection underscores his commitment to the cryptocurrency and his belief in its potential to bring about positive changes in society.
The crypto community is abuzz with rumors about what former President Donald Trump may announce at the Bitcoin Conference in Nashville. Speculations suggest that Trump might reveal plans for a strategic Bitcoin treasury. In contrast, presidential candidate Kamala Harris, who is not attending the conference, reportedly holds reservations about cryptocurrencies despite having to familiarize herself with the subject to attract voters.
Kennedy’s proposals and plans regarding Bitcoin reflect his belief in the cryptocurrency as a transformative force for the financial system and society at large. His vision of aligning the government’s assets with Bitcoin showcases a commitment to embracing decentralization and transparency in the economy. Whether or not his ideas come to fruition, they spark important conversations about the role of digital currencies in shaping the future of finance and governance.