RFK Jr. on Bitcoin T-Bills, capital gains, ETFs and censorship
Political chatter about bitcoin among U.S. presidential candidates has ramped up in recent months with GOP candidates like Florida Governor Ron DeSantis and Vivek RamaswamyKennedy has gone as far as to propose ideas such as bitcoin Treasury bills , i.e., government debt which would be backed by bitcoin and other commodities.
“My proposal is to make a small number of T-bills backed by a basket of hard assets, including gold, silver, platinum and bitcoin,” Kennedy explained yesterday. “We are looking at how that kind of commodity-based asset might put a little bit of discipline into the Fed and the practice of just printing money arbitrarily with no control and no backstop at all.
“I've talked about some kind of suspension of the capital gains taxes for conversion of bitcoin,” Kennedy said. “One of the dangers we want to avoid is creating huge windfalls for BlackRock and for Goldman. But there may be evidence that we may be able to do that with a million-dollar cap, so small investors who are into bitcoin would not have to pay the capital gains taxes, but super large holding companies like BlackRock and Goldman would.
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