Robert Kennedy Jr. Invests in Bitcoin: Buys 2 BTC for Each of His 7 Children

Robert F. Kennedy Jr., a Democratic presidential candidate, has recently disclosed his involvement in the cryptocurrency market. In a Twitter Space conversation on July 26, Kennedy revealed that he purchased a substantial amount of Bitcoin earlier this year, specifically acquiring two BTC for each of his seven children. The decision came after facing criticism from both crypto industry experts and the mainstream media following his pro-Bitcoin comments at the Bitcoin Miami Conference in May.

Kennedy acknowledged that he had been criticized for advocating a “volatile commodity” like Bitcoin without having any personal investment in it. However, after receiving a substantial check, he decided to act on his convictions and bought two Bitcoin for each of his six biological children, ranging in age from 22 to 38, and presumably for his seventh child from his marriage to actress Cheryl Hines, who had one daughter prior to their marriage in 2014.

Initially, during his speech at the Bitcoin conference, Kennedy denied any personal investment in the cryptocurrency, stating that he was not an investor and was not offering investment advice. However, the recent revelation indicates that he did indeed have holdings in Bitcoin.

A leaked financial disclosure later confirmed that Kennedy had “between $100,001 and $250,000” worth of Bitcoin by the end of June. Considering the price of Bitcoin at the time, it suggests that he may have purchased a total of 14 Bitcoin for approximately $26,800 in the days following the conference. As of the current date, the value of Bitcoin has risen to $29,327, meaning Kennedy’s investment has grown to a total of $410,000.

In the same interview, Kennedy reiterated his commitment to back the U.S. dollar with Bitcoin if elected President and expressed his desire to exempt the cryptocurrency from capital gains taxes. However, he specified that such exemptions should primarily apply to smaller investors and businesses to avoid granting significant advantages to large corporations like BlackRock and Goldman Sachs.

Kennedy’s decision to invest in Bitcoin aligns with his vision of using the cryptocurrency as a means to revitalize innovation in America. While this marks his first public acknowledgment of owning Bitcoin, his investment in the digital asset indicates his confidence in its potential for the future. As the crypto market continues to evolve, Kennedy’s stance on integrating Bitcoin into national economic policies could shape discussions and perspectives on the role of cryptocurrencies in the broader financial landscape.

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