Democratic Presidential candidate Robert F. Kennedy Jr. recently made headlines with his audacious plans for the future of American economics. The Kennedy campaign aims to significantly encourage Bitcoin usage and even back the U.S. dollar with Bitcoin and other hard assets.

Robert F. Kennedy Jr. has proposed a dramatic revamp of the U.S. economic model that includes integrating Bitcoin into the country’s financial fabric. His radical plans include exempting Bitcoin from capital gains tax when converted into U.S. dollars and backing the greenback with finite assets such as gold, silver, platinum, and most intriguingly, Bitcoin.

“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,” said Kennedy. He emphasized that he would start small, backing “very, very small, perhaps 1% of issued T-bills” with hard currencies including Bitcoin.

RFK Jr.’s approach is a clear divergence from the traditional stance on fiat currency, which he criticized as being invented to fund wars. Instead, he championed base currencies, which make it difficult to “just print money to fund the war and tax the public through the hidden tax of inflation.”

From War to Peace: A New Financial Vision

Kennedy’s plan stems from his critique of the U.S.’s heavy war spending. Citing data from the Watson Institute, RFK Jr. pointed out that U.S. post-9/11 war spending totalled $8 trillion from 2001 to 2022.

By promoting the use of Bitcoin and other hard assets, Kennedy aims to restore strength to the dollar, rein in inflation, and usher in an era of financial stability, peace, and prosperity. Furthermore, the move could foster innovation, stimulate investments, and safeguard citizen privacy, making the U.S. a more attractive place for businesses and tech jobs, rather than losing them to countries like Singapore, Switzerland, Germany, and Portugal.

Bitcoin: The Way Forward

Kennedy also announced his support for Bitcoin and his plan to accept Bitcoin campaign donations. The Kennedy family has reportedly invested between $100,001 and $250,000 in Bitcoin, underscoring their faith in the cryptocurrency.

Kennedy further added that his administration’s mission is to make America the hub of cryptocurrency, particularly Bitcoin, and stated, “Non-taxable events are unreportable and that means it will be more difficult for governments to weaponize currency against free speech, which as many of you know, is one of my principal objectives.”

RFK Jr. has shown strong reservations about Central Bank Digital Currencies (CBDCs), viewing them as ‘instruments of control’. His administration plans to enact strong barriers to their development, further cementing Bitcoin’s position.

Bitcoin and the Future

This revolutionary policy proposed by Kennedy is a clear indicator of his intent to usher in a new era of financial stability and technological innovation.

With his unconventional approach and firm commitment to Bitcoin, RFK Jr. stands at the forefront of a potential cryptocurrency revolution. And with his family legacy and the support of influential figures such as Twitter co-founder Jack Dorsey, the Bitcoin future of America might just be around the corner.