Robert F. Kennedy Jr., running for president, has a big idea: turn the US into the world’s biggest Bitcoin holder. He wants to buy enough Bitcoin to match the value of the US’s gold reserves, which is a whopping $619 billion!
Bitcoin: A Solution to Government Problems?
Kennedy Jr. sees Bitcoin as a way to fix problems with the US government and economy. He thinks Bitcoin is a better way to manage money than the current system, which he calls “inflationary” and “destructive.” He believes Bitcoin promotes personal freedom and keeps the government honest.
He’s not just talking about buying Bitcoin. He wants to use it to back up the US dollar, gradually replacing traditional debt with Bitcoin-backed treasury bills.
Kennedy Jr. vs. Trump on Bitcoin
Kennedy Jr. also took a shot at former President Trump, who is also a fan of Bitcoin now. Kennedy Jr. pointed out that Trump was skeptical of Bitcoin in the past and even appointed people who tried to restrict Bitcoin transactions. He says Trump’s recent support for Bitcoin seems suspicious.
The Big Bitcoin Buy
To match the value of the US’s gold reserves, Kennedy Jr. would need to buy about 9.4 million Bitcoin. That’s almost half of all the Bitcoin that will ever be created!
This would make the US the biggest Bitcoin holder in the world, surpassing companies like MicroStrategy and BlackRock.
Will Kennedy Jr.’s Plan Work?
Kennedy Jr.’s plan is ambitious and would require a massive investment in Bitcoin. It’s unclear if he can convince the US government to buy that much Bitcoin, or if it would even be a good idea.
But one thing is clear: Kennedy Jr. is betting big on Bitcoin, and he’s hoping it will be the key to fixing America’s economic problems.
