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Robert F. Kennedy Jr. Proposes Massive Bitcoin Reserve for U.S. Government
Robert F. Kennedy Jr. Proposes Massive Bitcoin Reserve for U.S. Government
In a recent interview, presidential candidate Robert F. Kennedy Jr. suggested that the federal government should acquire enough Bitcoin to match the value of the country’s gold reserves. The move comes amid speculation that President Donald Trump plans to create a bitcoin reserve in the United States.
Kennedy, an independent candidate, shared his vision in a conversation with Custodia Bank CEO Caitlin Long, hosted by YouTuber Scott Melker. underlines The integrity of Bitcoin as a currency, emphasizing its decentralized nature and transparency. “Bitcoin is an honest currency,” Kennedy said. “It’s based on proof of work, everything is recorded, and that’s what we have to do with democracy.”
The U.S. government currently holds 8,134 tons of gold, valued at about $615 billion. To match that value in bitcoin, the government would need to procure about 9.4 million BTC at current prices, which is nearly 45% of the total bitcoin supply.
Kennedy’s plan is part of his broader strategy to back both the currency and government debt with a mix of hard assets, including gold, silver, platinum, and Bitcoin. He expanded on this idea by proposing a new class of U.S. Treasury bonds anchored to this basket of assets. The peg would start at 1% in the first year, increase to 2% in the second year, and eventually reach 100% over time.
The ambitious Bitcoin acquisition would be completed within the first four years of Kennedy’s term. “I would like the federal government to start buying Bitcoin and, within my term, have an amount of Bitcoin equivalent to the amount of gold we have,” he said.
If this plan is implemented, the United States would become the largest holder of bitcoin in the world. Currently, the largest holder of bitcoin is MicroStrategy, with 226,331 BTC worth $14.41 billion. The world’s largest Bitcoin ETF, managed by BlackRock, holds 334,000 BTC worth $21.73 billion. The potential holdings of the US government would dwarf these figures.