U.S. Presidential Candidate Robert F. Kennedy Jr. Buys $250,000 in Bitcoin
This investment revelation marks a stark reversal from Robert F. Kennedy Jr.'s previous statement of not being a Bitcoin investor back in May.
According to CNBC, Robert F. Kennedy Jr. now holds between $100,001 and $250,000 worth of Bitcoin as of the end of June this year.
The investment was made following his speech at the 2023 Bitcoin Conference in May. At the time, he became the first presidential candidate to accept Bitcoin donations for his White House campaign, as reported by Coin68.
During the conference, the grandson of former President Kennedy denied any Bitcoin investment. (What is Bitcoin?)
"I am not an investor, and I am not here to give investment advice."
Financial disclosures submitted on June 30 do not specify the exact timing of the Bitcoin purchase or identify the family member who executed the transaction. However, the campaign of the candidate has acknowledged it was Kennedy Jr. The reported profit from this investment currently stands at around $201.
Screenshot of Kennedy Jr.'s financial disclosure submitted on June 30. Source: CNBC
Robert Francis Kennedy Jr. is the son of former U.S. Attorney General and Senator Robert Kennedy, as well as the grandson of the 35th U.S. President, John Kennedy. Robert Kennedy Jr. officially launched his presidential campaign for 2024 on April 19. His presence at Bitcoin 2023 was likely a well-calculated strategy to attract support and donations from the cryptocurrency sector, which has previously backed political campaigns with millions of dollars.
In a series of tweets in May 2023, he stated that "cryptocurrency, led by Bitcoin along with other coins, is a catalyst for major innovation" and "the U.S. government would be mistaken to stifle this sector and promote innovation elsewhere."
Among Robert Kennedy Jr.'s supporters is former Twitter CEO Jack Dorsey. "He can and will do it," Dorsey publicly commented on the race.
Support for Bitcoin from the political sphere is seen as crucial for the cryptocurrency industry at present, especially amidst regulatory scrutiny from U.S. authorities. The U.S. Securities and Exchange Commission (SEC) continues to withhold approval while awaiting appropriate legal frameworks for digital assets.
