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Robert F. Kennedy Jr.'s Investments in Bitcoin
Robert F. Kennedy Jr., aspirant for the Presidency from the Democratic party, has acknowledged the purchase of a significant amount of Bitcoin (BTC) earlier this year. He reportedly acquired two BTC for his seven offspring.
His announcement surfaced in a Twitter Space conversation on July 26. He received considerable backlash from both mainstream media and cryptocurrency supporters following his Bitcoin endorsement during the Bitcoin Miami Conference in May. Critics pointed out his promotion of a "fluctuating asset" without any personal financial stake.
About Kennedy's Seven Children
From his combined children, six are biological – four men and two women. Their ages range from 22 to 38 years. The seventh child apparently belongs to his current wife, actress Cheryl Hines, who had a daughter from an earlier relationship before their marriage in 2014.
Kennedy's Revelation at the Bitcoin Miami Conference
During his speech at the conference, where he also revealed his campaign's acceptance of Bitcoin donations, Kennedy denied having a personal investment in the digital currency. He clearly stated, “I am no investor, and am certainly not here to provide investment counsel.”
This revelation about his cryptocurrency ownership attests to a confidential financial disclosure which suggested Kennedy had a Bitcoin worth of "$100,001 to $250,000" by June-end.
Estimated Worth of Kennedy's Bitcoin Investment
However, if the calculations hold true, Kennedy who supposedly procured 14 Bitcoins at an estimated cost of $26,800 each in the days succeeding the conference, would have had total assets exceeding $380,000 by June's end.
Associated: RFK Jr. clarifies stand on CBDC, crypto: ‘It’s not only law-breakers who seek privacy’
According to Cointelegraph price data, the present rate of Bitcoin is $29,327. Consequently, Kennedy's current investment is valued at a total of $410,000.
Kennedy's Future Plans
In his interview, Kennedy reiterated his scheme to back the U.S. dollar with Bitcoin and exempt the digital asset from capital gains taxes upon his election as the President. He expressed his belief in Bitcoin as a catalyst for driving innovation in America.
He further noted that any capital gains exceptions on Bitcoin conversions should primarily benefit smaller businesses and investors to prevent large corporations like BlackRock and Goldman Sachs from reaping massive profits.
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