In a recent revelation that underscores his pro-crypto stance, 2024 U.S. presidential candidate Robert F. Kennedy Jr. (aka “RFK Jr.”) disclosed that he has invested in Bitcoin for his children. The Democratic candidate confirmed that he purchased two Bitcoins for each of his seven children earlier this year.
Robert Francis Kennedy Jr., born on January 17, 1954, is an American environmental lawyer, author, member of the Kennedy family, 2024 Democratic Party presidential candidate, and a controversial figure known for promoting anti-vaccine propaganda and health-related conspiracy theories. Kennedy is the son of former U.S. Attorney General Robert F. Kennedy and nephew of President John F. Kennedy.
Kennedy’s decision to invest in Bitcoin came after facing criticism from the crypto community and mainstream media following his pro-Bitcoin remarks at the Bitcoin Miami Conference in May. Critics pointed out that while promoting a “volatile commodity,” he had no personal stake in it.
In response to the criticism, Kennedy decided to put his money where his mouth was. According to an article by Cointelegraph, he shared in a July 26 Twitter Space:
“Right after that Bitcoin conference 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.“
Kennedy’s seven children include six biological children from his previous marriages and a stepdaughter from his current marriage to actress Cheryl Hines.
During his speech at the Bitcoin Miami Conference, Kennedy denied having any personal investment in Bitcoin. However, his recent disclosure aligns with a leaked financial document that showed Kennedy owning “between $100,001 and $250,000” worth of Bitcoin at the end of June.
In a press release issued on 19 July 2023 by the Heal-the-Divide P, as reported by TheStreet, Kennedy unveiled a series of policy initiatives that could significantly reshape the Bitcoin landscape and bolster its position in the financial marketplace.
According to the press release, Kennedy proposes strengthening the US Dollar by backing U.S. Treasury bills, notes, and bonds with a combination of hard assets, including Bitcoin and precious metals. This strategy, he says, could restore the dollar’s dominance in the financial marketplace while solidifying Bitcoin’s sustainability. Kennedy believes this approach could help rein inflation and usher in a new era of American financial stability, peace, and prosperity.
The second major proposal announced by Kennedy is a tax incentive for Bitcoin holders. Specifically, he proposes that when Bitcoin holders exchange Bitcoin for the dollar, it will be a tax-free event. This policy aims not only to help retain high-tech investment and jobs in America but also to restore financial privacy for all Americans, as Bitcoin transactions would no longer be a tax reporting event to the IRS. Kennedy’s vision aligns with tax incentives provided by countries like Germany, Portugal, Singapore, and Hong Kong.
In addition to these groundbreaking initiatives, Kennedy has proposed several other Bitcoin policies. These include ensuring the right to Bitcoin self-custody and the right to run nodes in one’s home. Kennedy also proposes adopting a policy of industry-neutral regulation of energy to promote energy abundance for crypto operations. Furthermore, he aims to clarify and enforce “sensible jurisdiction and governance,” recognizing that Bitcoin is not a security and should not be regulated as one.