Table of Contents
- Putting His Money Where His Mouth Is
- Buying BTC In Response To Criticism
- Previously Denied Holding BTC
Democratic presidential candidate Robert F. Kennedy Jr. confirmed his recent purchase of a significant amount of Bitcoin earlier this year.
Putting His Money Where His Mouth Is
Kennedy had been previously criticized for publicly endorsing BTC at the Bitcoin Miami Conference in May. During a Twitter Space session on July 26, he revealed that he is not promoting an idea he does not believe in, as he has purchased 2 BTCs for each of his seven children. This disclosure marks the first time Kennedy has acknowledged owning cryptocurrency and aligns with his stance on promoting Bitcoin's potential benefits.
In the interview, Kennedy reiterated his support for backing the U.S. dollar with Bitcoin and exempting the asset from capital gains taxes if he becomes President. He believes that Bitcoin can drive innovation in America.
However, he emphasized that capital gains exemptions on Bitcoin conversions should be limited to smaller investors and businesses, avoiding windfalls for large corporations like BlackRock and Goldman Sachs.
Buying BTC In Response To Criticism
The decision to invest in Bitcoin came as a response to critics who accused him of promoting a "volatile commodity" without having any personal stake in it.
Kennedy explained his reasoning, saying,
"Right after that Bitcoin conference I got a big check and I said, okay, you know, I'm going to put my money where my mouth is and so I bought two Bitcoin for every one of my seven children…Now I’m a Bitcoin owner, and I’m sure they’ll now find a different way to come at me, but no one can say I didn’t put my money where my mouth is."
Kennedy has six biological children, four sons and two daughters, aged 22 to 38. His seventh child is likely from his marriage to actress Cheryl Hines, who had one daughter prior to their marriage in 2014.
Previously Denied Holding BTC
During his speech at the conference in May, Kennedy denied any personal investment in cryptocurrency, stating that he was not an investor and not offering investment advice. However, a leaked financial disclosure later revealed that he held "between $100,001 and $250,000" worth of Bitcoin at the end of June.
Based on available information, if Kennedy bought a total of 14 Bitcoin at an approximate price of $26,800 shortly after the conference, his holdings by the end of June would have exceeded $380,000. As of the time of publication, Bitcoin's price stands at $29,327, indicating that Kennedy's investment is currently worth around $410,000.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.