Democratic candidate Robert F. Kennedy Jr. has emerged as a fervent backer of Bitcoin as the US presidential race heats up. In a Twitter Spaces talk with Scott Melker, Kennedy praised Bitcoin as the money of freedom. He also revealed his investment in the digital commodity.
Kennedy shifted to crypto investing after the media criticized his endorsement without owning Bitcoin. He purchased 14 Bitcoin in May and distributed two BTC to each of his seven children.
Immediately after his presentation at the May Bitcoin Conference, Kennedy chose to purchase Bitcoin.
Kennedy affirmed, “Now I’m a Bitcoin owner, and I’m sure they’ll now find a different way to come at me, but no one can say I did not put my money where my mouth is”.
Kennedy and Melker also talked about the vulnerability of consumer bank accounts throughout the conversation, with Kennedy speculating that political pressure might have had an impact on Joseph Mercola’s bank account being closed. He voiced alarm over the closure of accounts due to political speech by influential banking interests and underlined how important Bitcoin adoption is in light of this situation.
Chase Bank has shut down our business bank accounts along with the accounts of my CEO and CFO, as well as their family members (including spouse and child). They’ve refused to provide any reason for doing so, the oldest account has been active for 18 years.…
— Dr. Joseph Mercola (@mercola) July 25, 2023
At a Miami conference, Kennedy attributed his interest in Bitcoin to the pandemic’s impact.
He highlighted its effects as the reason for his engagement with cryptocurrency. During the conference, Kennedy asserted he was the first presidential contender to accept Lightning Network Bitcoin donations. He claimed during the speech that he did not own any Bitcoin, but his most recent admission disproved that.
Kennedy: A Vocal Supporter of Bitcoin and Its Growing Importance in Politics
Bitcoin is currently valued at $29,330 per coin. If Kennedy’s claim is accurate, the investment would now be worth about $400,000, showing a considerable increase in value since May.
Online bookmakers predict low chances for Kennedy’s candidacy, but Bitcoin aficionados have backed him.
Kennedy stated, “I am very happy for the support I’ve gotten from the Bitcoin community.”
Beyond its profit potential, Kennedy supports Bitcoin. He compares free money to free speech and views it as a basic part of freedom. He also rejected the environmental defenses of Bitcoin, arguing that they hide the real reason for the cryptocurrency’s ban.
Kennedy’s public acceptance of Bitcoin illustrates the expanding significance of digital assets in the political sphere as the presidential race progresses. Despite being an outsider in the nomination process, his investments and the pro-crypto position may be popular with the crypto community. The cryptocurrency market draws the attention of politicians, investors, and the public. It reflects the rising significance of blockchain and decentralized finance globally.
