In a Twitter Spaces conversation with The Wolf of All Street podcast host Scott Melker, Robert F. Kennedy Jr. confirmed on Wednesday that he does own bitcoin (BTC), resolving previous disputes about his cryptocurrency holdings recorded in a financial disclosure form.
During the discussion, Kennedy revealed his recent purchase of bitcoin, stating, “Right after the Bitcoin Conference, I decided to put my money where my mouth is and bought two bitcoin for each of my seven children.” The Miami-based Bitcoin Conference, which took place from May 18 to May 20, was marked by Kennedy’s favorable comments on Bitcoin.
At the time of the Bitcoin Conference, the cryptocurrency was trading around $27,000 per coin. Today, with the current prices hovering around $29,500, Kennedy’s 14 bitcoin holdings have surged in value, now worth almost $414,000.
Kennedy’s public embrace of bitcoin has gone beyond his personal investment decisions. Last week, he doubled down on his support for the cryptocurrency, pledging that if he wins the presidency, he will exempt bitcoin from capital gains taxes. Additionally, he expressed his intention to back the U.S. dollar with hard assets such as bitcoin, aiming to strengthen the country’s financial system.
However, the confirmation of his bitcoin holdings comes after a discrepancy emerged earlier this month. CNBC reported that Kennedy initially denied being an investor in bitcoin, contradicting a financial disclosure form dated June 30, which indicated his ownership of between $100,001 and $250,000 worth of the cryptocurrency. The campaign initially attributed the holdings to Kennedy’s wife but later clarified that the assets indeed belonged to the Democratic presidential candidate himself.
Kennedy’s endorsement of bitcoin and his plans for its integration into the U.S. economy have drawn both attention and scrutiny from the cryptocurrency community and political circles. His stance on exempting bitcoin from capital gains taxes is seen as a potential boost to the cryptocurrency’s adoption and growth, providing a more favorable regulatory environment for investors and businesses.
Bitcoin has been the subject of ongoing debates and discussions in the financial world, with its proponents highlighting its potential as a decentralized and borderless digital currency, while skeptics raise concerns about its volatility and regulatory challenges.
As the cryptocurrency landscape continues to evolve, Kennedy’s support and advocacy for bitcoin could have significant implications for the industry’s future. His recent purchases of bitcoin for his children demonstrate his belief in the asset’s long-term potential and align with his vision of fostering financial innovation and sustainability if elected to the highest office in the United States.
With bitcoin gaining prominence as a part of mainstream financial discussions, Kennedy’s involvement in the cryptocurrency space is likely to attract further attention and interest from both the public and other political figures. As the 2024 presidential election approaches, the role of cryptocurrencies in the national economy could emerge as a central point of discussion among candidates and voters alike.
