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Following the Miami conference, Robert F. Kennedy Jr. invested up to $250,000 in Bitcoin

Robert F. Kennedy Jr. reveals up to $250,000 in Bitcoin investment after denying involvement, marking a significant shift in his stance on crypto

Shashank Bhardwaj
Published: Jul 10, 2023 03:42:16 PM IST
Updated: Jul 10, 2023 03:49:17 PM IST

Following the Miami conference, Robert F. Kennedy Jr. invested up to 0,000 in BitcoinRobert F. Kennedy Jr. Image: mJamie McCarthy/Getty Images

Robert F. Kennedy Jr., a prominent Democratic presidential candidate, has made headlines by disclosing his ownership of up to $250,000 worth of Bitcoin. This revelation contradicts his earlier claim of not being involved in the cryptos.

The disclosure revealed that Robert F. Kennedy Jr. held an investment ranging between $100,001 and $250,000 in Bitcoin at the end of June. Interestingly, this investment was made after his participation at the Bitcoin 2023 conference in Miami, where he announced his campaign's acceptance of Bitcoin donations, becoming the first in the United States to do so.

During the conference, Robert F. Kennedy Jr. explicitly denied being an investor in Bitcoin, stating that he was not there to provide investment advice. However, the financial disclosure filed on June 30 showcased his crypto ownership, albeit without specifying the exact timing of the investment.

The disclosure further indicated that the investment had yielded less than $201 since its inception. Although the filing did not reveal the purchaser's identity within the Kennedy family, the candidate's campaign confirmed that Robert F. Kennedy Jr. was indeed the investor.

Kennedy Jr., in his presidential campaign, has shown a keen interest in the crypto community. In a tweet on May 3, he praised cryptos, particularly Bitcoin, as a powerful force for innovation. He criticised the US government for hindering the industry and inadvertently driving innovation to other regions.

Notably, Robert F. Kennedy Jr. has garnered significant support from influential figures, including Jack Dorsey, the founder of Twitter and CEO of Block Inc. Dorsey expressed confidence in Robert F. Kennedy Jr.'s ability to overcome his opponents in the upcoming race.

As the son of former Attorney General and Senator Robert F. Kennedy and the nephew of former US President John F. Kennedy, Robert F. Kennedy Jr.'s involvement in Bitcoin investment comes at a crucial juncture for the American crypto industry. The Securities and Exchange Commission (SEC) has been intensifying its scrutiny of crypto businesses due to the country's lack of a comprehensive regulatory framework for digital assets.

Robert F. Kennedy Jr.'s disclosure of his Bitcoin investment highlights the increasing prominence of cryptos in political circles and underscores their potential impact on financial systems worldwide.

The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash