The Democratic presidential candidate reaffirms his support for Bitcoin, stating, “I’m going to put my money where my mouth is.”
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Robert F. Kennedy Jr., the Democratic presidential candidate, recently disclosed purchasing a substantial amount of Bitcoin earlier this year, acquiring two BTC for each of his seven children.
During a Twitter Space event on July 26, Kennedy explained that he made this decision in response to criticism from crypto industry experts and the mainstream media following his pro-Bitcoin statements at the Bitcoin Miami Conference in May.
Kennedy faced criticism for endorsing a “volatile commodity” without having personal investment.
Following the Bitcoin conference, Kennedy received a substantial check, prompting him to act on his words. He purchased two Bitcoins for each of his seven children.
Kennedy has six biological children, four sons, and two daughters, with ages ranging from 22 to 38.
The seventh child is from Kennedy’s marriage to actress Cheryl Hines, who had one daughter before their marriage in 2014.
During his speech at the conference, the candidate, Robert F. Kennedy Jr., stated that he did not personally invest in the cryptocurrency and avoided offering investment advice.
This recent admission marks the first time Kennedy has acknowledged owning Bitcoin, aligning with a leaked financial disclosure that disclosed he had “between $100,001 and $250,000” worth of Bitcoin by the end of June.
However, considering that Kennedy purchased a total of 14 Bitcoins for around $26,800 shortly after the conference, his total holdings at the end of June would have exceeded $380,000.
In the interview, Kennedy reiterated his intention to support the U.S. dollar with Bitcoin and proposed exempting the asset from capital gains taxes if he becomes President
Stressing that he views Bitcoin as a means to revitalize innovation in America, Kennedy expressed that any capital gains exemptions on Bitcoin conversions should be limited to smaller investors and businesses. He aims to avoid providing massive windfalls to large companies like BlackRock and Goldman Sachs.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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