Robert F. Kennedy Jr. Confirms Ownership of Bitcoin

The Democratic presidential candidate, Robert F. Kennedy Jr., has confirmed that he owns bitcoin after previously disputing it. During a Twitter Spaces conversation with The Wolf of All Street podcast host Scott Melker, Kennedy revealed that he purchased two bitcoin for each of his seven children right after the Bitcoin Conference. The conference, held in Miami between May 18 and May 20, saw Kennedy speaking favorably about bitcoin. At the time, bitcoin was trading at around $27,000, and with current prices at approximately $29,500, Kennedy’s 14 bitcoin are now worth almost $414,000.

Key Points:

Kennedy admitted to owning bitcoin after denying it in the past
He purchased two bitcoin for each of his seven children after the Bitcoin Conference
Bitcoin’s value has increased since the conference, making Kennedy’s investment worth almost $414,000
Kennedy previously promised to exempt bitcoin from capital gains taxes if elected president
He also expressed plans to back the U.S. dollar with hard assets like bitcoin

Earlier this month, CNBC reported that Kennedy had denied being an investor in bitcoin, contradicting a financial disclosure form that showed his ownership of the cryptocurrency. Initially, the campaign attributed the holding to Kennedy’s wife before clarifying that the assets did belong to the candidate himself.

Hot Take:

Robert F. Kennedy Jr.’s admission of owning bitcoin demonstrates his belief in the potential of the cryptocurrency. His promise to exempt bitcoin from capital gains taxes and support the U.S. dollar with hard assets like bitcoin aligns with the growing interest in digital currencies among political figures. This move could potentially encourage further adoption and acceptance of bitcoin in mainstream finance.