Robert F. Kennedy Jr. wants Bitcoin-backed US dollars and tax breaks for investors

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Democratic presidential hopeful Robert Kennedy Jr. has two bold new policies for his eventual administration: Exempting Bitcoin (BTC) holders from capital gains tax and backing the US dollar and Treasury bills with a percentage of hard currencies, such as BTC.

Bitcoin is one of the hardest currencies and the Kennedy administration will encourage its proliferation and spread, Kennedy said at a Political Action Committee (PAC) event dubbed Heal-the-Divide.

The first of Kennedy’s bold ideas, to exempt capital gains tax when Bitcoin is exchanged for US dollars, came with an acknowledgment of its drawbacks. This will give a boon to many Bitcoiners who have a lot of money, the presidential candidate said, but added that the benefits outweigh the losses.

This is an attempt to counter the moves of crypto-friendly countries like Switzerland, Singapore, Germany, and Portugal. He believes the tax exemption policy will spur investment, ensure citizen privacy and entice top talent to stay in the United States.

Robert F. Kennedy Jr. Praises Bitcoin, Says CBDCs Are “Instruments of Control”

My administration’s mission is to make America the hub of cryptocurrency and Bitcoin in particular, he said.

According to the 68-year-old, it will also be harder for governments to weaponize currency against free speech. He mentioned the idea of ​​central bank digital currencies (CBDCs) and that he intends to create strong barriers for them to materialize.

He doesn’t just have polarizing opinions on cryptocurrency.

Kennedy said during a Twitter Spaces event with Tesla CEO Elon Musk last month that he was convinced the 2004 presidential election was stolen because of voter fraud and that the mass shootings in the United States were related to prescription drugs. He also recently came under fire for alleging that COVID-19 was aimed at attacking Caucasians and black people. The most immune people are Ashkenazi Jews and Chinese.

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A White House spokesperson called the claims vile and false. In a June survey of voters, Emerson College found that 15% of respondents said they planned to vote for Kennedy in the primary.

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Kennedy’s second Bitcoin announcement is to support both the US Dollar and the United States. Treasury bonds with durable assets, namely gold, silver, platinum and bitcoin. His plan, however, is to start small, backing 1% of Treasuries with a combination of these assets, naming Bitcoin as what he considers the hardest asset in the world.

Aside from these two intrepid proposals, Kennedy did not retain other views on the state of the US economy. In his eyes, the biggest threat to America is inflation and the Fed’s decision to raise interest rates, which is wiping out the poor. He added that he wants to see sensible regulation and for authorities to recognize that Bitcoin is not a security.

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