Robert F. Kennedy Jr. Proposes $615 Billion Bitcoin Investment

Robert F. Kennedy Jr., an independent U.S. presidential candidate, has proposed a bold plan to invest $615 billion in Bitcoin, aiming to align the nation's Bitcoin reserves with its gold holdings. Kennedy sees this move as a way to combat inflation and enhance political decentralization, viewing Bitcoin as essential for a free society.

Despite his ambitious proposal, Kennedy’s chances of winning the election are low, with betting platforms giving him less than a 1% chance. His plan would make the U.S. the world's largest Bitcoin holder, requiring the acquisition of nearly 9.4 million BTC, about 45% of all Bitcoin ever to be mined.

In a discussion with YouTuber Scott Melker, Kennedy explained his strategy to fight inflation using Bitcoin. He described inflation as a form of government theft and suggested issuing new U.S. Treasury bills initially linked to Bitcoin by 1%, gradually increasing to 100%. During his first term, he plans for the federal government to buy Bitcoin aggressively to match its gold reserves, potentially making the U.S. a major player in the Bitcoin market.

Kennedy has long supported Bitcoin and has invested personally in it, buying 14 BTC last year. He believes cryptocurrency is crucial for fighting political censorship and maintaining a free society. He stresses that decentralization is vital for democracy.

However, Kennedy faces significant hurdles in his presidential bid. Betting platforms like Polymarket show his chances at less than 1%, compared to Donald Trump’s 60%. While Trump also supports Bitcoin, Kennedy opposes some of Trump’s potential appointments, such as Jamie Dimon as Secretary of the Treasury. Kennedy criticizes Dimon’s negative views on Bitcoin, calling him unsuited for dismantling or disempowering the Federal Reserve.

Kennedy’s Bitcoin plan reflects his broader vision for economic reform and political decentralization. Despite the slim odds of winning, his commitment to Bitcoin and transformative policies could influence discussions on cryptocurrency and economic policy in the U.S.