The independent candidate for the presidential election Robert F. Kennedy made some sensational announcements at the Nashville bitcoin conference.
It's happening!
Mr. Kennedy has promised to sign several pro-Bitcoin executive orders on day one. The first will order the Justice Department to transfer the approximately 200,000 BTC in its possession to the Treasury Department in order to create a “strategic reserve”.
A second decree will impose the purchase of 550 BTC per day until the country holds 4 million bitcoins. This is reminiscent of El Salvador's strategy of buying one bitcoin per day. The strategic reserve of the small Central American country now exceeds 5,000 BTC.
“The United States holds approximately 19% of the world's gold reserves. My strategy is to hold as much gold as bitcoin.”he said.
The United States will reach “a dominant position that no other country will be able to usurp,” he said. The result of this strategy will be that the capitalization of all bitcoins will reach several “hundreds of trillions of dollars.”he added.
Considering that the market capitalization of bitcoin is currently just over $1 trillion, Mr. Kennedy predicts that the value of bitcoin will increase at least 100-fold…
The cherry on the cake is that conversions between dollars and bitcoin will not have to be declared. There will be no capital gains tax. In other words, bitcoin would become a kind of inviolable and non-taxable savings.
THE speech was truly a siren song for bitcoin. All the key topics were covered (privacy, taxes, right to run a node, mining, American bitcoin reserve, etc.), without ever digressing on cRyPto.
R. Kennedy understood that bitcoin will not be a threat to the dollar if the United States acquires a substantial amount of it.
As Michael Saylor said earlier today, “You can strengthen the dollar by doing something that is economically rational. That's what we did when we bought Louisiana from the French, which doubled the size of the country. Or when William Seward bought Alaska and we found $1 trillion worth of oil there.”
Bitcoin is not a threat to states that are smart enough to keep it in reserve. It allows us to guarantee a fiat currency with the best store of value in the history of humanity.
It will be very interesting to see what Donald Trump announces this afternoon during the same conference.
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