Today presidential candidate Robert F. Kennedy Jr. (RFK Jr) said he left last year’s Bitcoin conference with “most of his wealth in Bitcoin.” Forbes last reported his net worth at $15 million. Considering that last year’s conference took place on May 18, when Bitcoin was trading at $26,400, RFK Jr. may have doubled his wealth by investing in Bitcoin.
Since last year’s event, Bitcoin has risen 154%, meaning a $10 million purchase of Bitcoin on the last day would now be worth around $25 million. RFK Jr. hasn’t confirmed exactly the amount of Bitcoin he bought, but considering he stated it was “the majority of his wealth,” we can assume he’s done very well in trading.
At the time, he admitted to buying 14 BTC for his seven children for about $380,000. However, today’s revelation shows he has bought significantly more. He now says he is “fully committed.”
RFK Jr’s Friday keynote address
On stage at one of the most influential events on the Bitcoin calendar, Kennedy will further elaborate on his stance on digital assets, which he has described as a commitment to freedom and transparency. His support for Bitcoin is evident in his policy proposals and personal investment choices.
Kennedy proposed that the US government acquire Bitcoin worth the country’s gold reserves, viewing this initiative as a way out of the inflation highway. He suggests a radical shift in traditional economic policy, positioning Bitcoin as a hedge against inflation and a tool for financial stability.
Regulation is another crucial area where Kennedy has expressed explicit views. He advocates for a regulatory framework that protects consumers from deceptive schemes, while opposing the SEC’s current “war” on crypto. This balanced approach aims to promote innovation in the blockchain space while ensuring consumer protection.
On the tax front, Kennedy has pledged to exempt Bitcoin from taxes if elected, arguing that it should be treated as a currency rather than subject to capital gains taxes. This proposal is part of his broader economic vision, which includes backing the US dollar with Bitcoin to increase the country’s financial robustness.
Kennedy’s push for government transparency extends to his proposal to put the federal budget on the blockchain, with the aim of increasing accountability and reducing corruption. He also emphasizes the importance of sovereignty over personal wallets and freedom of transactions, which he believes are crucial components of a decentralized and innovative economy.
As an environmental advocate, Kennedy’s support for Bitcoin is notable given the ongoing debates over its energy use. He acknowledges these concerns, but appears to be weighing them against the broader benefits he sees in crypto adoption.
As Kennedy takes the stage at the Bitcoin conference, his comments are expected to resonate deeply with proponents and skeptics alike, further cementing his role as a leading voice at the intersection of politics and digital assets. Hopefully we’ll get more clarity on whether he bought more Bitcoin, potentially doubling his net worth, or if he simply made a mistake earlier today.