- Robert Kennedy Jr., a Democratic candidate for the U.S. presidency, has publicly voiced his support for Bitcoin numerous times.
- Kennedy disclosed a Bitcoin investment to “put my money where my mouth is.”
- The presidential hopeful reiterated the digital asset’s potential.
Discussions regarding the importance of crypto have been a growing trend in U.S. politics over the last year, with representatives from both spheres stepping up efforts. During 2022’s election cycle, Sam Bankman-Fried donated $42 million to Democrat politicians and organizations. On the other hand, several representatives of America’s leading political parties have asserted their concerns about the crypto industry. One politician in particular, presidential candidate RFK Jr., has emerged as a staunch advocate for the industry and has now demonstrated a firm commitment to the leading digital asset: Bitcoin.
Presidential Candidate’s Bitcoin Investment
Robert Kennedy Jr. (aka RFK), nephew to John F Kennedy (aka JFK), delivered a surprising revelation. The Presidential candidate purchased 14 Bitcoin worth $400K for his seven children and stated his committed support for Bitcoin in a Twitter Spaces interview with Scott Melker, a crypto investor and podcaster. During the show, Kennedy Jr. revealed that he made the investment shortly after his appearance at the Bitcoin Conference in May.
During the interview, the presidential candidate asserted that the investment serves as a message to critics.
RFK Jr. Firm on Bitcoin
RFK emphasized Bitcoin’s status as the currency of freedom and asserted the importance of his investment, especially in light of media criticism, saying:
“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.”
On May 19, Kennedy made history and became the first presidential candidate to accept Bitcoin donations through the Lightning Network. Recently obtained financial disclosure documents disclosed that earlier this month, Kennedy’s family possessed Bitcoin holdings valued between $100,001 and $250,000, providing additional evidence of his engagement in the cryptocurrency.
During a speech at the Bitcoin Conference, Kennedy outlined his opinion of Bitcoin as “digital gold” and dismissed environmental concerns surrounding it. Citing the substantial financial toll of ongoing wars and environmentally detrimental initiatives, Kennedy said,
“I believe that the environmental arguments against Bitcoin are a smokescreen to obscure the real motives for suppressing Bitcoin”.
On the Flipside
- Kennedy’s investment in Bitcoin showcases the growing mainstream acceptance of cryptocurrency among political figures.
- On July 26, a significant bipartisan bill to establish a regulatory framework for cryptocurrencies made progress as a congressional committee advanced it. This marks a significant milestone for Capitol Hill as it strives to formalize federal oversight of the digital asset industry.
Why This Matters
Robert Kennedy Jr.’s public support for Bitcoin and substantial investment add legitimacy to the digital asset and highlights its significance in mainstream finance and politics. As a presidential candidate, his stance on Bitcoin and its potential to challenge traditional financial systems could influence the future of cryptocurrency regulations and adoption.
To learn more about presidential hopeful RFK Jr on Bitcoin, click here
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