Robert F. Kennedy Jr. Vows to Invest $615B in Bitcoin if Elected President

IconCryptoNewsTerminal Staff25 Jul, 2024

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Robert F. Kennedy Jr. Vows to Invest $615B in Bitcoin if Elected President

Robert F. Kennedy Jr., an independent candidate vying for the U.S. presidency, has declared his bold plan to bolster the government's financial standing by investing heavily in Bitcoin. In an interview on the crypto-centric podcast "The Wolf of All Streets," Kennedy Jr. stated that if elected, he would "put the government in Bitcoin to the tune of whatever the gold reserves are." This move would effectively allocate approximately $615 billion, the current value of U.S. gold reserves, into the world's leading cryptocurrency. Kennedy Jr. extolled the virtues of Bitcoin, describing it as "honest money" due to its proof-of-work consensus mechanism, decentralized nature, and immutable ledger system. He emphasized the alignment of these principles with the ideals of a democratic society. Should Kennedy Jr.'s pledge come to fruition, the U.S. would ascend to the position of the largest Bitcoin holder globally, surpassing MicroStrategy, which currently boasts a sizeable BTC portfolio valued at $1.441 billion.

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