Robert F. Kennedy Jr., a US presidential candidate for the 2024 elections and nephew of former President John F. Kennedy, has revealed his support for bitcoin. In a recent Twitter Spaces gathering, Kennedy shared that he had purchased two BTC for each of his seven children after attending the Bitcoin Conference in Miami earlier this year. With the price of bitcoin around $27,000 at the time, Kennedy likely spent approximately $380,000 on the investment.
Kennedy’s interest in bitcoin stems from his belief in the digital asset’s potential. As part of his political campaign, he has pledged to exempt bitcoin’s conversion to the US dollar from capital gains taxes. Additionally, he has expressed his intention to back the US national currency with “real finite assets,” including gold, silver, platinum, and bitcoin.
While Kennedy admitted that he first heard about bitcoin in 2009, it wasn’t until the beginning of 2022 during the truckers’ strike in Canada that he became more intrigued by the cryptocurrency. The strike led to significant crypto donations, prompting local authorities to restrict transactions tied to the protesters. This controversy highlighted the decentralized nature of bitcoin and fueled Kennedy’s interest in the asset.
Kennedy expressed his gratitude for the support he has received from the bitcoin community, describing them as a “unique breed” that values not only financial gains but also freedom. He believes that bitcoin allows individuals to make money by doing good and winning freedom, setting it apart from traditional finance where the focus is often solely on personal wealth accumulation.
As a presidential candidate, Kennedy’s endorsement of bitcoin adds to the growing acceptance and recognition of cryptocurrencies in mainstream politics. His commitment to exempting bitcoin from capital gains taxes and his belief in its potential as a finite asset further emphasize the increasing importance of digital currencies in shaping the future of finance.
Kennedy’s decision to invest in bitcoin for his children reflects his confidence in the long-term value and potential of the digital asset. As the cryptocurrency market continues to evolve and gain wider acceptance, it will be interesting to see how other political figures and candidates incorporate digital currencies into their platforms and policies.
Please note that this content was generated by an AI language model and has not been fact-checked or reviewed by a human editor.