Democratic presidential candidate RFK said “I’m going to put my money where my mouth is” after revealing $379,680 BTC purchase for his children.
Since announcing his candidacy in April this year, Democratic presidential hopeful Robert F. Kennedy Jr (RFK) has been a vocal proponent of Bitcoin.
On June 26, he announced that he purchased two Bitcoin for each of his seven children after his appearance at the Bitcoin Conference in Miami back in May, where he pronounced, “As President, I will make sure that your right to hold and use Bitcoin is inviolable, I will defend the right of self-custody.”
Speaking on a Twitter space, RFK revealed, “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 has seven adult children – the eldest being 38.
At the time of Kennedy’s purchase in May, the price of Bitcoin stood at roughly $27,120, totalling $379,680 for 14 Bitcoin.
Today, Bitcoin is trading at $29,438, according to CoinGecko, bringing RFK’s investment up to around $412,132.
The individual autonomy granted by Bitcoin has become a focal point of RFK’s campaign. On July 19, he vowed to gradually back the US dollar with Bitcoin among other hard assets such as gold.
Speaking at a Heal-the-Divide PAC event, Kennedy said that his uncle JFK understood “the dangers of having pure fiat currency with no other option,” pointing out that JFK issued gold and silver certificates that were discontinued after his death.
Bitcoin would be “part of the basket” of hard currencies that the Kennedy administration will encourage the use of. “My plan would be to start very, very small,” he said, “perhaps 1% of issued T-bills would be backed by hard currency, by gold, silver, platinum or Bitcoin.”
A defining moment in Kennedy’s pro-Bitcoin approach came in 2022 when Canadian officials used data tracking systems to freeze the bank accounts of truckers who were protesting Covid rules.
“When I witnessed this cataclysm,” Kennedy said, “this devastating use of government repression, I realised for the first time how free money is as important a freedom as free expression.”
While RFK has won favour with the crypto community, the odds of winning the nomination are stacked against him, currently standing at around 11 percent.
Disclaimer: CryptoPlug does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.