Official U.S. government announcements and tax policy changes

RFK Jr. Proposes $615B Bitcoin Reserve, 4M BTC Goal; Trump May Follow

Jul 26, 2024, 09:32 PM

U.S. presidential candidate Robert F. Kennedy Jr. has announced an ambitious plan to transform the nation's financial strategy by incorporating Bitcoin as a major reserve asset. Speaking at the Bitcoin 2024 Conference, Kennedy stated that if elected, he intends to sign an executive order directing the U.S. Treasury to purchase 550 Bitcoin daily until the country's Bitcoin reserves reach 4 million BTC, equivalent to approximately $615 billion. Kennedy, a strong advocate for Bitcoin, has stated that he has invested most of his wealth in the cryptocurrency and believes it can restore integrity to the government and personal freedoms. He also plans to transfer the approximately 200,000 Bitcoin currently held by the U.S. government to the Treasury as a strategic asset. Additionally, Kennedy proposes to make Bitcoin-USD transactions unreportable and non-taxable. This move is seen as a significant shift in U.S. monetary policy and aims to establish the U.S. as a dominant player in the cryptocurrency space. Kennedy also mentioned that former President Donald Trump might announce a similar plan to establish a U.S. Bitcoin reserve.