The Democratic candidate for the presidency of the United States Robert F. Kennedy Jr. nephew of JFK and son of Bob who wants to challenge Joe Biden , promises, if elected, a plan to exempt Bitcoin from capital gains tax when converted into US dollars and to support the greenback with gold, silver, platinum and Bitcoin.
“Supporting dollars and hard-asset U.S. debt bonds could help restore strength to the dollar, curb inflation, and usher in a new era of American financial stability, peace, and prosperity,” Robert Kennedy said at a Heal-the-Divide PAC event two days ago. He would start this process very, very gradually: “Maybe 1% of the Treasury bills issued would be backed by hard currency, i.e. gold, silver, platinum or Bitcoin.” He added that based on the results of this initial move, he would increase this fee annually.
He then explained the advantages of this plan: “It would facilitate innovation and encourage investment, it would ensure the privacy of citizens, it would encourage ventures to grow their business and tech jobs in the United States rather than in Singapore, Switzerland, Germany and Portugal”. He added: “Non-taxable events are not reportable and that means it will be more difficult for governments to use currency as a weapon against free speech, which as many of you know is one of my main goals.”
Kennedy reiterated the string of pledges he made to promote Bitcoin adoption during a speech at the Bitcoin 2023 conference, which included “defending the right to self-custody of bitcoin” and advocating for “the right to run a node at home.”
Kennedy framed his commitments to Bitcoin as an integral part of the ideals of his uncle, President John F. Kennedy, and his vision of governing a free and fair country.