US Presidential Candidate Invests $420,000 in Bitcoin

In May 2022, Robert Francis Kennedy Jr., the current US presidential candidate, made a significant investment in the world’s leading cryptocurrency, Bitcoin. The politician purchased 14 BTC, valued at approximately $420,000 based on the average exchange rate at that time, intending to secure his children’s financial future.

Kennedy’s decision to invest in Bitcoin was driven by his desire to demonstrate his commitment to the digital asset. The move came after facing criticism from journalists for promoting Bitcoin without having any personal stake in it. During an appearance on The Wolf Of All Streets podcast, Kennedy proudly revealed that he had purchased two bitcoins for each of his seven children, making him an official crypto investor. He anticipated further scrutiny from the media but emphasized that he had put his money where his words were, expressing his belief in the potential of cryptocurrency.

The presidential hopeful has been a vocal advocate for Bitcoin, labeling it the “currency of freedom” and championing it as an alternative to the traditional financial system. Kennedy did not shy away from criticizing US regulators for what he deemed a detrimental “war on cryptocurrencies” that had led to a banking crisis in the country. Should he emerge victorious in the election, Kennedy pledged to make decisions that would foster the growth of Bitcoin and safeguard the freedom of transactions, granting people control over their wallets, nodes, and passwords. In addition to his recent investment, he also revealed that he had previously personally invested around $250,000 in Bitcoin.

The upcoming US elections are being closely watched by industry leaders like Coinbase CEO Brian Armstrong, who considers them a pivotal moment for the regulation of digital assets. Kennedy’s Republican rival, Florida Governor Ron DeSantis, has also expressed support for protecting Bitcoin if he assumes the country’s highest office. With the intersection of politics and cryptocurrencies gaining prominence, the nation’s choice in leadership could significantly shape the future of the digital asset landscape.