Democratic presidential candidate Robert F. Kennedy Jr., known for his advocacy of the crypto industry, has invested between $100,001 and $250,000 in Bitcoin (BTC). This investment comes as a contrast to Kennedy Jr.’s previous claims of not being involved with the leading cryptocurrency. The disclosure was revealed in a financial filing obtained by CNBC.
Kennedy Jr.’s Bitcoin investment took place after his participation in the Bitcoin 2023 conference in May. During the event, he announced that his campaign would accept Bitcoin donations, but explicitly denied being an investor in Bitcoin. The recent financial disclosure, however, confirms his ownership of the digital asset.
The exact timing of Kennedy Jr.’s Bitcoin purchase is unknown from the filing, which only states that the investment has yielded less than $201 since its inception. Although the document does not specify who made the purchase within the Kennedy family, the campaign confirmed that it was indeed Kennedy Jr.
Challenging President Joe Biden in the upcoming race, Kennedy Jr. has been targeting the cryptocurrency community as part of his campaign strategy. He sees cryptocurrencies, especially Bitcoin, as crucial innovation engines and believes that stifling the industry would hinder progress and drive innovation elsewhere. Notably, Kennedy Jr. has received support from notable figures in the tech world, such as Twitter founder Jack Dorsey, who expressed confidence in the candidate’s ability to defeat his opponents.
Kennedy Jr.’s investment in Bitcoin aligns with the current state of the American crypto industry, which is grappling with regulatory uncertainties. The Securities and Exchange Commission (SEC) has been intensifying its scrutiny of crypto businesses due to the lack of a comprehensive regulatory framework for digital assets in the United States.
As the son of former Attorney General and Senator Robert F. Kennedy, as well as the nephew of President John F. Kennedy, Robert F. Kennedy Jr.’s support and involvement in the crypto space carry significance. His investment in Bitcoin underscores the growing interest and acceptance of cryptocurrencies within the political landscape.
In a time of increasing discussions about digital assets and their regulatory implications, Kennedy Jr.’s positioning and financial decision provide insight into the intersection between politics, investments, and the cryptocurrency market.