Robert Kennedy Jr. Buys 14 Bitcoin For His Children

The Democratic Presidential Candidate Confirms his Investment and Reiterates Support for Bitcoin

Robert F. Kennedy Jr., the son of former U.S. Attorney General and Senator Robert F. Kennedy, has bought two Bitcoin for each of his seven children earlier this year. The Democratic presidential candidate made the announcement during a Twitter Spaces on Wednesday with podcast host Scott Melker.

Kennedy decided to invest in Bitcoin after receiving criticism for his pro-Bitcoin comments in May, when he also announced that he would accept campaign donations in Bitcoin. Facing accusations of promoting a “volatile commodity” without having any skin in the game, he decided to take action.

“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.”

Source:Twitter spaces

Financial disclosures show that Kennedy owned “between $100,001 and $250,000” worth of Bitcoin at the end of June. At the time of writing, his investment is worth around $410,000, as Bitcoin is trading at $29,327.

Bitcoin as a Hedge Against Government Tyranny and Inflation

Kennedy is one of a growing number of US politicians who openly support Bitcoin and its potential to empower individuals to protect their privacy. He expressed concerns over the increasing surveillance and censorship by governments and corporations, especially during the COVID-19 pandemic.

His support for Bitcoin stems from the belief that it can offer a way to resist the totalitarian tendencies of the state. He has also criticised the Federal Reserve for printing trillions of dollars and devaluing the U.S. dollar, calling it “a hidden tax”.

Recently Kennedy took to twitter to criticise the capricious decisions by banks to arbitrarily close accounts belonging to customers, their family and friends, all without giving plausible reasons or a reasonable avenue for appeal the shady decision.

“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.”

If Kennedy becomes President, he has promised to implement bold policies in support of Bitcoin, like backing the U.S. dollar with Bitcoin and make the cryptocurrency exempt from capital gains taxes. He also said he would protect the rights of Bitcoin users and miners from any regulatory interference or harassment.

Kennedy faces a tough challenge in his bid for the presidency, as he is running against incumbent Joe Biden and probably other prominent Democrats such as Kamala Harris and Elizabeth Warren. However, he hopes that his pro-Bitcoin stance will attract more supporters and donors from the growing community.

Bitcoin’s Growing Political Support in the USA

Bitcoin growing political support includes 2 presidential candidates viewed as the major challengers in the Democratic and Republican parties. Kennedy is also not the only US politician who supports Bitcoin and accepts it as a form of payment or donation. According to a report , there are at least 25 political candidates and committees that are using cryptocurrency in their campaigns.

• Presidential candidates:
  • Ron DeSantis, R-Fla., has expressed his support for Bitcoin and said he would protect the ability of Americans to use it without government interference. He also said that Bitcoin represents a threat to “the current regime” that is trying to regulate it out of existence.
• Senators:
  • Cynthia Lummis, R-Wyo. is a vocal supporter of Bitcoin. She is a member of the Senate Banking Committee and has been pushing for more education and innovation around Bitcoin.
• Representatives:
  • Tom Emmer, R-Minn., accepts donations in Bitcoin.
• Governors:
  • Jared Polis, D-Colo., was one of the first members of Congress to accept Bitcoin donations in 2014. He is now the governor of Colorado and has been promoting the state as a hub.
• Mayors:
  • Francis Suarez, R-Miami, has been leading the charge to make Miami a Bitcoin-friendly city. He has announced plans to accept tax payments in Bitcoin, pay city employees in Bitcoin, and invest city funds in Bitcoin.
  • Eric Adams, D-NYC, has followed Suarez’s example and said he would take his first three paychecks in Bitcoin and Ethereum. He also wants to make NYC “the center of the cryptocurrency industry” and teach crypto in schools.