Contrary to what he said in May, he recently disclosed that he had invested in Bitcoin.
Despite claiming earlier that he was not an investor in the popular cryptocurrency, Democratic presidential contender Robert F. Kennedy Jr. really has up to $250,000 in Bitcoin.
Kennedy Jr. possessed between $100,001 and $250,000 worth of Bitcoin at the end of June, according to a record obtained by CNBC. The investment was made following his May speech at the Bitcoin 2023 conference, during which he declared that his campaign would be the first in the country to accept Bitcoin donations.
The candidate also denied buying Bitcoin at the conference. “I am not an investor, and I am not here to give investment advice,” he declared.
Since the investment was made, the cryptocurrency has returned less than $201, according to the financial disclosure document submitted on June 30. Although the candidate’s campaign confirmed it was Kennedy Jr., the document does not state who made the purchase in the Kennedy family.
Kennedy Jr., who is running against President Joe Biden, has made the cryptocurrency industry a focus of his campaign. He wrote on Twitter on May 3 that “cryptocurrencies, led by bitcoin, along with other crypto technologies, are a major innovation engine” and that it was wrong for the U.S. government “to hobble the industry and drive innovation elsewhere.”
One of his wealthiest backers is Jack Dorsey, CEO of Block Inc. and pioneer of Twitter, who just endorsed the candidate. When asked about the candidate’s plan to beat his rivals in the forthcoming election, Dorsey responded on Twitter with the words, “He can and will.”
Kennedy Jr. is Robert F. Kennedy’s son and John F. Kennedy’s nephew. In the absence of a U.S. digital asset regulatory framework, the Securities and Exchange Commission (SEC) is cracking down on crypto firms, thus, his backing is important for the industry.