In a recent interview with Custodia Bank CEO Caitlin Long and YouTuber Scott Melker, Kennedy proposed an interesting idea for the federal government to start buying Bitcoin until its holdings match the value of the nation’s gold reserves. This would mean acquiring roughly 9.4 million BTC, which is approximately 45% of the total Bitcoin supply. Kennedy believes that Bitcoin is an “honest currency” that has the potential to revolutionize the financial system.
Kennedy emphasized that Bitcoin was designed to replicate the intrinsic value of gold while also offering advantages such as being infinitely divisible. He argued that Bitcoin’s decentralized nature and proof-of-work concept make it an ideal form of currency. By suggesting that the government back its fiat currency and debt with a basket of hard currencies including gold, silver, and BTC, Kennedy envisions a future where Bitcoin plays a significant role in the economy.
According to Kennedy, decentralization is crucial for preserving democracy. He believes that by embracing technologies like Bitcoin, individuals can protect their property rights, personal freedoms, and self-sovereignty. Kennedy’s vision involves creating a new class of Treasury bills that are anchored to a basket of currencies, with Bitcoin gradually gaining more prominence over time.
Kennedy expressed satisfaction with the fact that rival presidential candidate Donald Trump has shown interest in Bitcoin. He sees this as a positive development that could bring more attention to the cryptocurrency space. On the other hand, Kamala Harris, another presidential candidate, has not been as receptive to crypto, highlighting the contrasting views within the political landscape.
Kennedy argues that Bitcoin has the potential to combat government corruption and promote decentralization. He believes that Americans who invest in Bitcoin understand the importance of leveraging blockchain technology to safeguard their freedoms and rights. By placing trust in Bitcoin as a store of value, individuals can take a stand against centralized authorities.
As rumors circulate about Donald Trump potentially making a significant announcement regarding Bitcoin at the ongoing Bitcoin Conference in Nashville, the crypto community eagerly anticipates what the future may hold. Speculation suggests that Trump could introduce a strategic Bitcoin treasury plan, signaling a shift towards embracing digital assets on a national level. The evolving relationship between politicians and cryptocurrencies underscores the growing significance of Bitcoin in the economic landscape.
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