Democratic Party candidate Robert Kennedy for President of the United States promises a bold plan for the American economy. If elected president, he will ensure that the dollar will be backed by hard assets such as gold and Bitcoin, starting at 1% of bonds.
As he explained, backing the currency and US debt with hard assets could help restore strength to the dollar, curb inflationary pressures and bring about a new era of American economic stability, peace and prosperity.
At the same time, it argues that it would eliminate capital gains taxes from converting Bitcoin into dollars.
It was no surprise that Kennedy is a strong supporter of the freedom offered by Bitcoin.
In May he attended the annual Bitcoin conference in Miami, stating that he would support Bitcoin as president.
He argued that cryptocurrencies, with Bitcoin first, are a driver of innovation. It is wrong for the US government to put obstacles in the way of the industry, forcing it to move elsewhere.
Kennedy, 69, is the son of former Attorney General and nephew of former President John F. Kennedy, both of whom were assassinated in the 1960s. It is not without cost to the candidate to support Bitcoin.
The CNBC news network reported that he failed to disclose that his family had recently invested in Bitcoin, according to a financial statement he filed on June 30.
On page 12, Kennedy stated that he held Bitcoins worth between $100,001 and $250,000, but did not mention when they were purchased.
Bitcoin possession is entered in a section of the form that includes assets that may also belong to a spouse or one of six children.
Eventually people from the Kennedy campaign said the investments were not his but his wife’s.
However, they reconsidered shortly afterwards, saying that the Bitcoin investment was indeed Kennedy’s.
Nevertheless, Kennedy continues to praise Bitcoin at every opportunity. In late June, he posted a tweet in which he claimed that Bitcoin is not only an adversary to totalitarianism, but points the way to a future where government institutions are more transparent and more democratic.
With his pro-Bitcoin stance, he has managed to get some of the leading cutting-edge technology entrepreneurs like Jack Dorsey, David Sacks, Chamath Palihapitiya etc. to support him.However, he still remains far behind Biden in the polls.
A survey in June showed that in the race for the Democratic Party nomination, Biden is in the race with 70%, while Kennedy is in second place with 17%.
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