ALBAWABA – Democratic United States (US) presidential candidate Robert "Bobby" F Kennedy Jr, less commonly known as Young RFK, is reshaping the political terrain through controversy and somewhat radical proposals.
So far, he has proposed backing the US dollar with Bitcoin and other precious commodities, reducing military spending and bolstering the industrial infrastructure domestically.
He has also placed environmental policies front-and-center of his platform.
In many ways, he is echoing the audacious approach of former President Donald Trump.
"My plan would be to start very, very small; perhaps 1 percent of issued T-bills would be backed by hard currency, by gold, silver, platinum or Bitcoin,” he stated, boldly signaling his intention to revamp the American economy.
Notably, his daring agenda does not stop at backing the dollar with Bitcoin.
He also intends to exempt Bitcoin-to-US-dollar conversions from capital gains taxes, encouraging investments and stimulating crypto businesses to grow within US borders.
This policy resembles the tax reform brought about by Trump, only this time it is targeting the cryptocurrency domain.
Interestingly, his engagement with Bitcoin does not stop at policy proposals.
In May, Young RFK announced that he would accept political campaign donations in Bitcoin.
By July, his investment disclosure reports revealed substantial holdings in Bitcoin, estimated up to $250,000, as reported by CNBC News.
Kennedy's transparency about his cryptocurrency investments aligns with Trump's approach during his campaign and presidency.
His campaign confirmed that the initial Bitcoin investments were made by his wife and later Kennedy himself.
Nonetheless, according to Virginia Canter, the chief ethics counsel for the watchdog group Citizens for Responsibility and Ethics in Washington, “There is no conflict here.”
Young RFK views Bitcoin as a tool against totalitarianism and manipulation of the money supply.
"Bitcoin is not only a bulwark against totalitarianism and the manipulation of our money supply, it points the way toward a future in which government institutions are more transparent and more democratic," he tweeted in June.
Despite the similarities with Trump, there are significant differences in their political stances.
Young RFK aims to protect the American worker, rebuild industrial infrastructure "ruined by forty years of off-shoring," raise the minimum wage, and reinforce the power of trade unions to balance corporate interests.
As the November elections approach, one thing is clear: Young RFK is an intriguing figure within the democratic party, pushing innovative and audacious policies, much like Trump in his time. His approach to Bitcoin and the economy may well redefine the role of cryptocurrency in US politics.
