Robert F. Kennedy Jr Promises to Back US Dollar With Bitcoin, Remove Capital Gains Tax for BTC if Elected

By CoinMarketCap Alexandria July 20, 2023 In Bitcoin

Crypto News

Democratic presidential candidate Robert F. Kennedy Jr. has proposed backing the US dollar with Bitcoin if he is elected president.

Robert F. Kennedy Jr Promises to Back US Dollar With Bitcoin, Remove Capital Gains Tax for BTC if Elected

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Democratic Presidential Candidate Robert F. Kennedy Jr. Made These Pro-Bitcoin Remarks

Democratic presidential candidate Robert F. Kennedy Jr. has proposed backing the US dollar with Bitcoin if he is elected president.

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Kennedy made the suggestion that supporting the dollar with “hard currency,” such as gold, silver, platinum, or Bitcoin, could assist to re-stabilize the American economy while speaking at a Heal-the-Divide PAC event. Kennedy said that the process will take time, with possibly the first 1% of issued T-bills being backed by hard currency.

He also suggested exempting Bitcoin to US dollar exchanges from capital gains taxes, which he feels would encourage investment and provide incentives for businesses to expand in the US. Kennedy made these pro-Bitcoin remarks following his announcement that he would accept contributions to his political campaign in Bitcoin and his disclosure that he may own up to $250,000 worth of Bitcoin.

Other candidates for president have also made broad commitments related to cryptocurrencies, with Republican Ron DeSantis promising to outlaw central bank digital currencies if elected.

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