U.S. Presidential Candidate Robert F. Kennedy Jr. on Bitcoin

U.S. presidential candidate Robert F. Kennedy Jr. has pledged to issue several Bitcoin-related executive orders on his first day in office if elected.

Kennedy, running as an independent, stated he would instruct the U.S. Department of Justice and the U.S. Marshals Service to transfer approximately 200,000 Bitcoin held by the U.S. government to the Department of Treasury as a “strategic asset.”

At the Bitcoin 2024 event in Nashville, he announced plans to sign another executive order directing the U.S. Treasury to purchase 550 Bitcoin daily until the U.S. secures a reserve of 4 million BTC. Currently, there are about 21 million Bitcoin in circulation.

“Our nation holds roughly 19% of global gold reserves,” Kennedy asserted. “This policy will provide us with a similar percentage of total Bitcoin. Such actions will increase Bitcoin’s valuation to hundreds of trillions of dollars.”

Additionally, Kennedy intends to direct the U.S. Internal Revenue Service (IRS) to clarify that all transactions between Bitcoin and the U.S. dollar are unreportable and thus non-taxable.

Kennedy is currently trailing in polls against Vice President Kamala Harris and former President Donald Trump, as indicated by a Reuters/Ipsos survey. In the example ballot, Harris led with 42% support, Trump followed with 38%, and Kennedy received 8%.

As crypto issues gain traction in the election, the Republican Party has voiced support for crypto firms and investors, aiming to end perceived attacks on the industry. Meanwhile, Harris’ team began engaging with the crypto sector shortly after President Joe Biden announced he would not seek reelection, endorsing Harris as the Democratic Party’s nominee.

Trump is scheduled to address the Bitcoin 2024 gathering on Saturday afternoon.