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RFK Jr. Embraces Crypto: Claims “Most of My Wealth Is in Bitcoin”

RFK Jr. Embraces Crypto: Claims “Most of My Wealth Is in Bitcoin”

DailycoinDailycoin2024/07/27 09:31
By:Dailycoin
  • More US presidential election candidates are turning to Bitcoin.
  • Presidential candidate Robert F. Kennedy Junior has made new comments about Bitcoin.
  • Crypto continues to factor in the upcoming US elections.

The upcoming United States presidential election has sparked significant discussion in the crypto industry. Many industry figures and participants are seeking to support pro-crypto candidates who will challenge the current regulatory environment. As a result, some candidates are now expressing support for cryptocurrencies to gain industry backing and boost their chances.

Presidential hopeful Robert F. Kennedy Jr., who has consistently supported the industry, continues this trend by further advocating for the asset class.

RFK Jr. “Huge” Supporter of Bitcoin

During the BTC 2024 conference in Nashville on Friday, July 26, 2024, presidential candidate Robert F. Kennedy Jr. strongly supported Bitcoin.

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"I am a huge supporter of Bitcoin. I have most of my wealth in Bitcoin. I am fully committed," he stated.

Kennedy’s remarks were in response to an interviewer’s question about his experience with the asset class, affirming his commitment to the industry. This builds on his past pro-crypto statements, including a bold proposal at the April 21 Michigan rally to put the entire US budget on the blockchain if elected.

"Every American can look at every budget item in the entire budget, anytime they want, 24 hours a day. We’re gonna have 300 million eyeballs on our budget, and if somebody is spending $16,000 for a toilet seat, everybody’s gonna know about it," he said in April.

Kennedy stated that the technology would bring greater transparency to government spending. However, his Bitcoin ownership and blockchain-based budget proposal are not the only parts of his vision.

RFK Jr. Proposes Crypto-Based Federal Reserve

Another focal part of Robert F. Kennedy Jr.’s mandate is a proposal for the federal government to purchase more Bitcoin and a mission to accumulate enough holdings to match the nation’s gold reserves.

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“I would like to have the federal government begin to buy Bitcoin and to, over the term of my office, ultimately have an equivalent amount of Bitcoin that we have in gold,” he stated.

The presidential candidate shared his ambitions in a recent interview, adding that he feels “very aligned” with the industry’s mission. RFK Jr. also reiterated the level of transparency the asset offers, stating that “Bitcoin is an honest currency.” He added that the current system in the United States is driving the crypto and blockchain industry away, which is detrimental given their potential for substantial GDP growth.

Kennedy further stated that Bitcoin is a crucial tool for restoring government integrity and preserving personal freedoms. He also mentioned that it offers a way for the middle class to shield itself from inflation. 

On the Flipside

  • Presidential candidate Donald Trump has labeled himself a pro-crypto president. However, before he supported the asset class, he was a vocal antagonist .
  • Memocoins attached to political figures have experienced severe volatility in recent weeks.
  • The open support for Bitcoin by figures like Donald Trump and RFK Jr. is still debated across the industry.

Why This Matters

Robert F. Kennedy Jr.’s pro-crypto stance offers hope for a more accommodating environment for the crypto industry in the United States. However, the timing of the support from these political figures raises questions about their true motivations, and whether or not their endorsements are driven by genuine support for the industry, or simply strategic moves to attract votes.

Read this article for other remarks by RFK Jr. on his Bitcoin and crypto advocacy:
Robert F. Kennedy Jr. Pledges to Protect Bitcoin When President  

Here’s how ETH has performed since the launch of Ethereum ETFs: 
Ethereum Slips Below $3200 as Ether ETFs Log First Outflows

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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