Robert F. Kennedy Jr. has proposed that the government should acquire $250 billion worth of Bitcoin. This amount would be comparable to the current value of the US government's gold reserves.
Kennedy, who has previously promised to eliminate capital gains taxes on Bitcoin, believes that decentralization is crucial for safeguarding democracy. He emphasizes that Bitcoin’s transparency and lack of centralized control are key attributes.
This proposal is part of his larger strategy to support the U.S. currency and debt by using a basket of hard assets, which includes gold, silver, platinum, and Bitcoin.
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This proposal would likely increase demand for Bitcoin significantly. The government's acquisition of such a large amount of Bitcoin would signal strong institutional support and confidence in the cryptocurrency, potentially attracting more investors. Additionally, the elimination of capital gains taxes on Bitcoin would make it more appealing to investors, further driving up demand. As demand rises, the value of Bitcoin would likely increase as well, potentially leading to greater market stability and growth in the cryptocurrency sector.
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