In a surprising turn of events, Democratic presidential candidate Robert F. Kennedy Jr. has disclosed owning a substantial amount of Bitcoin (BTC). The revelation contradicts his earlier claim of not being an investor in the leading cryptocurrency. A financial disclosure obtained by CNBC indicates that Kennedy Jr. possessed between $100,001 and $250,000 worth of Bitcoin at the end of June.

Bitcoin Investment Made After Bitcoin 2023 Conference

Kennedy Jr.’s investment in Bitcoin came shortly after his participation in the Bitcoin 2023 conference in May. During the event, he made headlines by announcing that his campaign would become the first in the United States to accept Bitcoin donations. However, at the same conference, the candidate publicly denied having any investments in Bitcoin, emphasizing that he was not present to provide investment advice.

The financial disclosure filed on June 30 does not provide specific information regarding the timing of Kennedy Jr.’s Bitcoin purchase. It only states that the investment has yielded a return of less than $201 since its initiation. While the filing does not specify the member of the Kennedy family responsible for the purchase, the candidate’s campaign has acknowledged Kennedy Jr.’s ownership of the digital asset.

As Kennedy Jr. vies for the presidency against incumbent Joe Biden, he has displayed a keen interest in the cryptocurrency industry. In a tweet on May 3, he expressed his support for cryptocurrencies, particularly Bitcoin, labeling them as a significant driver of innovation. Furthermore, Kennedy Jr. criticized the U.S. government’s restrictive approach towards the industry, claiming that it hampers growth and innovation, ultimately pushing potential opportunities to other countries.

Support from Influential Backers and the Crypto Industry

Kennedy Jr.’s campaign has garnered support from prominent figures, including Jack Dorsey, the founder of Twitter and CEO of Block Inc. Dorsey recently voiced his endorsement of Kennedy Jr., highlighting the candidate’s strategies to overcome his opponents in the upcoming race. This backing from influential individuals within the tech and crypto community could significantly impact Kennedy Jr.’s campaign, especially given the current regulatory uncertainty surrounding digital assets in the United States.

As the son of former Attorney General and Senator Robert F. Kennedy, and the nephew of President John F. Kennedy, Kennedy Jr. carries a political legacy that resonates with many Americans. His ownership of Bitcoin further emphasizes the growing intersection between politics and cryptocurrencies. Moreover, his support comes at a crucial time for the American crypto industry, as the Securities and Exchange Commission (SEC) continues its crackdown on crypto businesses due to the absence of a comprehensive regulatory framework for digital assets.

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Filed under: Bitcoin - @ July 9, 2023 11:23 pm