Key points

  • Robert F. Kennedy Jr has communicated that he intends to back the U.S. Dollar with Bitcoin if elected President.
  • Robert F. Kennedy has been vocal about Bitcoin, calling it a “defense against the manipulation of money supply.”

Presidential candidate Robert F. Kennedy has voiced his intentions with Bitcoin if elected President of the U.S., saying he would back the U.S. dollar with it. He added that he would also exempt Bitcoin profits from capital gains taxes.

Robert F. Kennedy continues his darling Bitcoin project

In a July 19 Heal the Divide PAC event, Presidential candidate Robert F. Kennedy expressed that he would use Bitcoin to stabilize the U.S. dollar claiming that Bitcoin is a hard currency just like Gold or Silver. He said it would be a good solution to restabilize the American economy.

“Backing dollars and U.S. debt obligations with hard assets could help restore strength back to the dollar, rein in inflation and usher in a new era of American financial stability, peace and prosperity.”

He added that the process would be gradual, starting with adjusting the amount of treasury bonds offered and backed by the currency. In a statement, he said:

“My plan would be to start very, very small; perhaps 1% of issued T-bills would be backed by hard currency, by gold, silver, platinum or Bitcoin.”

Robert F. Kennedy also expressed that he would make profits from Biutcoij exempt from capital gains taxes, explaining that it would incentivize the adoption of the currency in the country. 

He previously also campaigned for the coin, saying that every citizen should be allowed to own and trade it as it is a form of defence against hawkish central banks. At the time, he tweeted saying:

“As President, I will ensure that your right to use and hold Bitcoin is inviolable. Bitcoin is not only a bulwark against totalitarianism and the manipulation of our money supply, and it points the way toward a future in which government institutions are more transparent and democratic.”

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