The post Robert F. Kennedy Jr. Reveals His Bitcoin Holdings appeared first on Coinpedia Fintech News In the midst of the intense White House race, presidential candidate Robert F. Kennedy Jr. has been unapologetically vocal about his support for cryptocurrencies, particularly Bit...
The post Robert F. Kennedy Jr. Reveals His Bitcoin Holdings appeared first on Coinpedia Fintech News
In the midst of the intense White House race, presidential candidate Robert F. Kennedy Jr. has been unapologetically vocal about his support for cryptocurrencies, particularly Bitcoin. He firmly believes in the potential of digital currencies and has made bold promises about their role in his future policies, if elected as president in the 2024 Democratic elections.
Previously just vocal, he now admits to owning Bitcoin as a small investment for his kids. Let’s see what made him spill the beans. Many see it as a political agenda and he may back out later.
In a recent Twitter Spaces interview with crypto enthusiast and podcaster Scott Melker, Kennedy proudly announced that he had put his money where his mouth is by investing in 14 BTC in May. He clarified this Wednesday that he purchased 2BTC each for his seven children, a smart move to show his genuine support for the digital currency. While it is also rumored that the decision to invest came after he faced criticism from media outlets for endorsing Bitcoin without having any personal holdings.
Kennedy claims BTC can reform banks.
For Kennedy, Bitcoin represents more than just an investment opportunity; he sees it as a “currency of freedom”. In his talk with Melker, he strongly criticized banks for abruptly closing consumer bank accounts, implying political pressure may be involved. He noted Joseph Mercola’s bank account deletion, a renowned figure suspected of spreading coronavirus disinformation. That makes his point clear that Bitcoin’s decentralization offers the best alternative to the existing traditional banking system.
Will BTC Holding Affect his campaign?
Even if he possesses a lot of Bitcoin, Kennedy’s team says it’s not a conflict of interest. Instead, he promised to protect Bitcoin from capital gains taxes and support the U.S. dollar with hard assets like Bitcoin. However, all this came to light when CNBC revealed his actual holdings to be between $100,001 and $250,000 in Bitcoin.
While Kennedy’s love of Bitcoin is evident, his crypto campaign’s success is uncertain. His current polls show a 14% chance of winning compared to Biden’s 65%. He needs public trust, not Bitcoin backing. Kennedy must maintain trust and persuade Americans that he should be president.
In the end, the value of Bitcoin in his portfolio may have grown since his initial investment, with each coin now priced at around $29,330. If his claims are accurate, Kennedy’s Bitcoin holdings would be worth roughly $400,000 today, an impressive sum that could potentially fuel further support for his campaign.