Following prior disagreements over his cryptocurrency holdings, Robert F. Kennedy Jr., a well-known attorney and political figure, revealed on Wednesday that he is the owner of bitcoin (BTC). The confession was made in a Twitter Spaces session moderated by Scott Melker of The Wolf of All Street podcast.
Kennedy said that he made the risky decision to invest in the digital asset soon after visiting the Miami-based Bitcoin Conference from May 18 to May 20. Kennedy bought two bitcoins for each of his seven kids in an attempt to live up to his convictions. At the time of purchase, the price of a bitcoin was roughly $27,000, making his investment worth around $378,000 at the time. Currently, with bitcoin’s price circling about $29,500, his assets have increased to an astonishing total value of approximately $414,000 (at the time of writing).
Kennedy restated his support for bitcoin and promised to stick with the cryptocurrency if he were to win the president at the same Twitter Spaces event. He emphasized his trust in the revolutionary potential of digital currencies by stating his plan to exclude bitcoin from capital gains taxes and proposing backing the U.S. currency with tangible assets such as bitcoin.
In accordance with a financial disclosure form dated June 30 that disclosed his ownership of the cryptocurrency worth between $100,001 and $250,000, CNBC reported earlier this month that Kennedy had denied investing in bitcoin. The campaign first claimed that Kennedy’s wife owned the properties, but it was eventually made clear that the political candidate really owned them.
Kennedy’s candor on his ownership of bitcoin and his support for cryptocurrencies have generated debates in the political and financial spheres. His opinions on bitcoin might have broad repercussions and affect how other people see digital assets since he is a well-known person with a sizable following.
Investors and governments alike are becoming more interested in the rapidly changing world of cryptocurrencies and blockchain technology. With Kennedy’s outspoken backing and readiness to invest in bitcoin, the debate over cryptocurrencies’ place in the economy and financial regulations is expected to grow in importance over the next few days. Kennedy’s status as a prominent person promoting bitcoin might help determine the direction that digital currencies go on the domestic and global arena as the world observes his initiatives.