Official announcements from the U.S. Treasury or Federal Reserve

RFK Jr. Proposes $615 Billion Bitcoin Purchase to Match U.S. Gold Reserves of 8,134 Tons

Jul 26, 2024, 03:30 AM

U.S. presidential candidate Robert F. Kennedy Jr. has announced a bold proposal to align the federal government's Bitcoin holdings with its gold reserves. If elected, Kennedy plans to have the government purchase Bitcoin amounting to approximately $615 billion, which would match the current value of the U.S. gold reserves. He emphasized that Bitcoin is not only a hedge against inflation but also a means to restore integrity to government and personal freedoms. Kennedy, a strong advocate for Bitcoin, stated, "I have most of my wealth in Bitcoin. I am fully committed." His vision includes issuing Treasury bills backed by a basket of hard currencies, including Bitcoin, gold, and platinum. This proposal comes amid growing interest in cryptocurrencies within the political landscape, as Kennedy aims to push for mainstream adoption of Bitcoin as a viable alternative to traditional currency.