Robert F. Kennedy Jr., Strong Advocate for Crypto, Purchased Bitcoin Contrary to Previous Statement...How Much Does He Own?

Democratic presidential candidate Robert F. Kennedy Jr. has acknowledged owning a significant amount of Bitcoin, despite previously denying it and attributing the crypto to his wife. However, his campaign insists that this does not pose a conflict of interest.

Kennedy expressed his admiration for Bitcoin during a keynote speech at Bitcoin 2023 in Miami in May, emphasizing the need to support and safeguard the network. He also mentioned that his campaign would accept Bitcoin donations. However, he made it clear to conference attendees that he was not personally investing in Bitcoin and that his endorsement should not be construed as investment advice.

Nevertheless, a CNBC report obtained a financial disclosure revealing that Kennedy's family holds between $100,000 and $250,000 worth of Bitcoin in a brokerage account as of June 30.

The disclosure does not specify when the investment was made, and it states that the income generated from the purchase is less than $201.

Kennedy's campaign manager, Democratic Representative Dennis Kucinich, stated that there is no conflict of interest, emphasizing that the Bitcoin purchase occurred after Kennedy's positive remarks about the cryptocurrency in Miami.

Initially, Kennedy's campaign informed CNBC that the Bitcoin in question belonged to his wife, Cheryl Hines, known for her role in the television show "Curb Your Enthusiasm." However, a representative from Kennedy's campaign later admitted their mistake and confirmed that the Bitcoin investment actually belonged to Kennedy himself.

Among Democratic candidates, Kennedy has been a strong advocate for Bitcoin, while Republican contenders like Florida Governor Ron DeSantis and Vivek Ramaswamy have also made efforts to appeal to the Bitcoin community.

Although Kennedy's discussions about Bitcoin have decreased in frequency since the Miami event, where he did not mention the topic during an extensive one-on-one conversation with Elon Musk, he continues to express support for the pioneering cryptocurrency through occasional tweets.

Kennedy stated on June 27 that "Bitcoin is not only a defense against totalitarianism and monetary manipulation but also indicates a future where government institutions are more transparent and democratic."

He has garnered support from notable figures in the crypto community, including Jack Dorsey, the CEO of Block, who expressed confidence that Kennedy could surpass DeSantis or Donald Trump in the election. Nevertheless, before facing either of them, Kennedy would need to win the Democratic presidential primaries against President Joe Biden.

A recent survey conducted by Echelon Insights indicates that 65% of voters would choose to stick with Biden, while only 14% would opt for Kennedy.