Democratic presidential candidate Robert F. Kennedy Jr. has confirmed he purchased a significant amount of Bitcoin (BTC), earlier this year — buying two BTC for each of his seven children.
Speaking in a July 26 Twitter space, Kennedy said the decision came after he received “a lot of criticism” from crypto industry pundits and the mainstream press in the wake of his pro-Bitcoin comments made at the Bitcoin Miami Conference in May.
— The Wolf Of All Streets (@scottmelker) July 26, 2023
Kennedy said he was critiqued for promoting a “volatile commodity” while not having any skin of his own in the game.
“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.”
Kennedy has six biological children, including for sons and two daughters, whose ages range from 22 to 38.
Assumedly, the seventh child comes from Kennedy’s most recent marriage to actress Cheryl Hines, who had one daughter before the pair married in 2014.
BREAKING: Democrat Presidential candidate Robert Kennedy Jr. announces that he is a #Bitcoin holder.
— Dennis Porter (@Dennis_Porter_) July 26, 2023
At the time of his speech at the conference — where he also announced that he would begin accepting campaign donations in Bitcoin — the candidate denied having any personal investment in the cryptocurrency.
“I am not an investor, and I am not here to give investment advice,” he said.
This marks the first time that Kennedy has admitted to owning the cryptocurrency, and lines up with a leaked financial disclosure which revealed the candidate “between $100,001 and $250,000” worth of Bitcoin at the end of June.
However, if RFK had purchased a total of 14 Bitcoin for an approximate price of $26,800 in the days following the end of the conference — his total holdings at the end of June would’ve surpassed $380,000.
At the time of publication, the price of Bitcoin stands at $29,327, according to Cointelegraph price data, meaning that Kennedy’s investment is now worth a total of $410,000.
In the interview, Kennedy reaffirmed his plan to back the U.S. dollar with Bitcoin as well as making the asset exempt from capital gains taxes if elected President.
This kind of thing partly explains the appeal of Bitcoin. Our freedom to transact and save should not be at the mercy of political enforcers. No payment platform should be allowed to discriminate against people for exercising their right to free speech.
— Robert F. Kennedy Jr (@RobertKennedyJr) July 26, 2023
Saying that he sees Bitcoin as a vehicle for returning innovation to America, he added that any capital gains exemptions on Bitcoin conversions should only apply to smaller investors and businesses, as to not create “huge windfalls” for large companies like BlackRock and Goldman Sachs.