Robert Kennedy Jr. reveals buying 2 Bitcoin for each of his 7 children

“I’m going to put my money where my mouth is,” said the Democratic presidential candidate as he doubled down on his support for Bitcoin.

Democratic presidential candidate Robert F. Kennedy Jr. has confirmed he purchased a significant amount of Bitcoin (BTC) earlier this year — buying two BTC for each of his seven children.

Speaking in a July 26 Twitter Space, Kennedy said the decision came after he received “a lot of criticism” from crypto industry pundits and the mainstream press in the wake of his pro-Bitcoin comments made at the Bitcoin Miami Conference in May.

Live now discussing #Bitcoin with ⁦@RobertKennedyJr⁩ ⁦@Breedlove22⁩ ⁦@1MarkMoss⁩ ⁦@natbrunell⁩ and ⁦@MartyBent⁩ https://t.co/gx5a63SDOj
— The Wolf Of All Streets (@scottmelker) July 26, 2023

Kennedy said he was critiqued for promoting a “volatile commodity” while not having any skin of his own in the game.

“Right after that Bitcoin conference I got a big check and I said, okay, you know, I'm going to put my money where my mouth is and so I bought two Bitcoin for every one of my seven children.”

Kennedy has six biological children, four sons and two daughters ranging in age from 22 to 38.

Presumably, the seventh child comes from Kennedy’s most recent marriage to actress Cheryl Hines, who had one daughter before the pair married in 2014.

BREAKING: Democrat Presidential candidate Robert Kennedy Jr. announces that he is a #Bitcoin holder.
— Dennis Porter (@Dennis_Porter_) July 26, 2023

At the time of his speech at the conference — where he also announced that he would begin accepting campaign donations in Bitcoin — the candidate denied having any personal investment in the cryptocurrency.

“I am not an investor, and I am not here to give investment advice,” he said.

This marks the first time that Kennedy has admitted to owning the cryptocurrency, and lines up with a leaked financial disclosure that revealed the candidate had“between $100,001 and $250,000” worth of Bitcoin at the end of June.

However, if RFK Jr. had purchased a total of 14 Bitcoin for an approximate price of $26,800 in the days following the end of the conference, his total holdings at the end of June would’ve surpassed $380,000.

At the time of publication, the price of Bitcoin stands at $29,327, according to Cointelegraph price data, meaning that Kennedy’s investment is now worth a total of $410,000.

In the interview, Kennedy reaffirmed his plan to back the U.S. dollar with Bitcoin as well as making the asset exempt from capital gains taxes if elected President.

This kind of thing partly explains the appeal of Bitcoin. Our freedom to transact and save should not be at the mercy of political enforcers. No payment platform should be allowed to discriminate against people for exercising their right to free speech.
— Robert F. Kennedy Jr (@RobertKennedyJr) July 26, 2023

Saying that he sees Bitcoin as a vehicle for returning innovation to America, he added that any capital gains exemptions on Bitcoin conversions should only apply to smaller investors and businesses, as not to create huge windfalls for large companies like BlackRock and Goldman Sachs.

Opinion: GOP crypto maxis almost as bad as Dems’ ‘anti-crypto army’

Bitcoin

RFK Jr. said he will use Bitcoin to stabilize the U.S. dollar as well as make Bitcoin profits exempt from capital gains tax.

Democratic presidential candidate Robert F. Kennedy Jr. has promised to progressively back the United States dollar with Bitcoin (BTC) if he is elected president.

Speaking at a July 19 Heal-the-Divide PAC event, Kennedy claimed that backing the U.S. dollar with what he called "hard currency," including gold, silver, platinum or Bitcoin, could help to re-stabilize the American economy.

"Backing dollars and U.S. debt obligations with hard assets could help restore strength back to the dollar, rein in inflation and usher in a new era of American financial stability, peace and prosperity.”

Kennedy explained the process would be gradual and depending on the plan’s success he’d adjust the amount of backing for the dollar.

“My plan would be to start very, very small, perhaps 1% of issued T-bills would be backed by hard currency, by gold, silver platinum or Bitcoin,” he said.

Additionally, Kennedy declared he would make Bitcoin to U.S. dollar conversions exempt from capital gains taxes.

In his view, the proposed exemption would spur investment and incentivize ventures to grow their business in the U.S. instead of other crypto-friendly jurisdictions such as Singapore or Switzerland.

Kennedy’s latest round of pro-Bitcoin comments come in the wake of his appearance at Miami’s Bitcoin 2023 conference on May 19 where he announced that he would accept political campaign donations in Bitcoin.

On July 9, investment disclosures found that Kennedy owned up to $250,000 worth of Bitcoin, despite his previous statements where he denied having any exposure to the asset.

RFK is one of many presidential hopefuls to make sweeping crypto-based promises. On July 14, Republican presidential candidate and Florida Governor Ron DeSantis promised to ban central bank digital currencies (CBDCs) if elected president.

“If I am the president, on day one, we will nix central bank digital currency. Done. Dead. Not happening in this country,” DeSantis said.

Magazine: Bitcoin is on a collision course with ‘Net Zero’ promises

rfk jr bitcoin