Democratic presidential candidate Robert F. Kennedy Jr. confirmed his latest buy of a big quantity of Bitcoin earlier this 12 months.
Placing His Cash The place His Mouth Is
Kennedy had been beforehand criticized for publicly endorsing BTC on the Bitcoin Miami Convention in Might. Throughout a Twitter House session on July 26, he revealed that he’s not selling an thought he doesn’t imagine in, as he has bought 2 BTCs for every of his seven youngsters. This disclosure marks the primary time Kennedy has acknowledged proudly owning cryptocurrency and aligns along with his stance on selling Bitcoin’s potential advantages.
Within the interview, Kennedy reiterated his assist for backing the U.S. greenback with Bitcoin and exempting the asset from capital positive factors taxes if he turns into President. He believes that Bitcoin can drive innovation in America.
Nonetheless, he emphasised that capital positive factors exemptions on Bitcoin conversions must be restricted to smaller buyers and companies, avoiding windfalls for big firms like BlackRock and Goldman Sachs.
Shopping for BTC In Response To Criticism
The choice to put money into Bitcoin got here as a response to critics who accused him of selling a “risky commodity” with out having any private stake in it.
Kennedy defined his reasoning, saying,
“Proper after that Bitcoin convention I bought an enormous test and I mentioned, okay, you already know, I’ll put my cash the place my mouth is and so I purchased two Bitcoin for each considered one of my seven youngsters…Now I’m a Bitcoin proprietor, and I’m positive they’ll now discover a totally different approach to come at me, however nobody can say I didn’t put my cash the place my mouth is.”
Kennedy has six organic youngsters, 4 sons and two daughters, aged 22 to 38. His seventh baby is probably going from his marriage to actress Cheryl Hines, who had one daughter previous to their marriage in 2014.
Beforehand Denied Holding BTC
Throughout his speech on the convention in Might, Kennedy denied any private funding in cryptocurrency, stating that he was not an investor and never providing funding recommendation. Nonetheless, a leaked financial disclosure later revealed that he held “between $100,001 and $250,000” price of Bitcoin on the finish of June.
Based mostly on obtainable info, if Kennedy purchased a complete of 14 Bitcoin at an approximate value of $26,800 shortly after the convention, his holdings by the tip of June would have exceeded $380,000. As of the time of publication, Bitcoin’s value stands at $29,327, indicating that Kennedy’s funding is at the moment price round $410,000.
Disclaimer: This text is offered for informational functions solely. It’s not provided or meant for use as authorized, tax, funding, monetary, or different recommendation.
