Kennedy's nephew promised to stabilize the dollar thanks to bitcoin (BTC)
Date: 2023-07-20 Author: Karina Ziganova Categories: BLOCKCHAIN
Democratic presidential candidate Robert F. Kennedy Jr. has proposed stabilizing the U.S. dollar with Bitcoin (BTC) if he wins the 2024 election
He promised to abolish the conversion of bitcoins into US dollars from the tax. In addition, if elected, Kennedy will abolish capital gains tax for investors who profit from BTC.
"My plan was to start with very, very small; Perhaps 1% of the issued Treasury bills will be backed by hard currency, gold, silver, platinum or bitcoins," he said.
Such measures will promote innovation and make the United States a leader in the markets for cryptocurrencies and blockchain technology. This will stimulate investment and enable new businesses to enter the cryptocurrency markets, ushering in a new era of global finance.
"Backing U.S. dollars and U.S. debt with hard assets can help restore the dollar's strength, curb inflation, and usher in a new era of U.S. financial stability, peace, and prosperity.
Bitcoin should never be regulated
Kennedy Jr. also stressed that bitcoin is not a security. Moreover, it should never be regulated by governments around the world. According to the politician, fiat currency was invented to finance wars around the world.
"You can't just print money to finance a war and impose a hidden tax on inflation on the public. In fact, you need to go out to the public and say: "This is how much this war will cost," he concluded.
Kennedy will protect bitcoin
Earlier, the nephew of the thirty-fifth President of the United States, John F. Kennedy, had already promised to ensure the inviolability of the rights to use and own bitcoins if he wins the presidential election. He prepared this decision in response to the regulatory pressure faced by the crypto industry in the United States.
Kennedy also fears that the U.S. government will confiscate BTC from Americans. In his opinion, this will happen as the digital dollar (CBDC) develops. So the American government will be able to monitor all the finances and transactions of any of the Americans.
