U.S. presidential candidate Robert F. Kennedy Jr. promised to issue several Bitcoin BTC +3.54% -related executive orders on his first day in office if elected president.

Kennedy, who is running as an independent, said he would direct the U.S. Department of Justice and the U.S. Marshals Sevice to transfer about 200,000 Bitcoin held by the U.S. government to the Department of Treasury to be held as a "strategic asset."

Kennedy also told participants at Bitcoin 2024 in Nashville on Friday that he plans to sign a separate executive order directing the U.S. Treasury to buy 550 bitcoin daily until the U.S. has a reserve of 4 million BTC. There are about 21 million bitcoin in circulation. 

"Our nation holds approximately 19% of global gold reserves," Kennedy continued. "This policy will give us about the same proportion of total bitcoin. This cascading impact and these actions will eventually move bitcoin to a valuation of hundreds of trillions of dollars."

Kennedy also added that he plans to sign an executive order directing the U.S. Internal Revenue Service to publish guidance saying that "all transactions between bitcoin and the U.S. dollar are unreportable transactions and by extension non-taxable." 

Kennedy is trailing fellow candidates Vice President Kamala Harris and former President Donald Trump, according to a Reuters/Iposos poll. When voters in the survey were shown an example ballot that included Kennedy, Harris and Trump — Harris led Trump 42% to 38%, while Kennedy was favored by 8% of voters, according to the poll.

Crypto has swiftly become part of the election season landscape. The Republican Party expressed support for crypto firms and investors in its platform for the 2024 elections, including vowing to end an “unlawful and un-American crackdown” on the U.S. crypto industry. Meanwhile, Harris' team started outreach to the crypto industry a week after President Joe Biden announced he would not be seeking reelection and endorsed Harris to replace him as the Democratic Party's nominee.  

Trump is slated to speak at Bitcoin 2024 on Saturday afternoon. 

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