Former US Presidential Candidate Invests Majority of Wealth in Bitcoin

Robert Francis Kennedy Jr., nominated by Donald Trump for the position of US Secretary of Health, has announced a significant personal investment in Bitcoin, according to Cointelegraph.

The former independent presidential candidate has declared himself a strong supporter of cryptocurrency. He revealed that a year ago, following his participation in a cryptocurrency conference, he invested “most of his wealth” in digital gold.

“So I am fully committed to it,” the politician emphasized.

In a separate post on X, Kennedy reiterated his description of Bitcoin as the “currency of freedom.”

Bitcoin is the currency of freedom, a hedge against inflation for middle class Americans, a remedy against the dollar’s downgrade from the world’s reserve currency, and the offramp from a ruinous national debt. Bitcoin will have no stronger advocate than Howard Lutnik.

— Robert F. Kennedy Jr (@RobertKennedyJr) November 16, 2024

According to him, the asset serves as:

• a hedge against inflation for the middle class;
• a remedy against the dollar losing its status as the world’s reserve currency;
• an exit from the “ruinous” national debt of the United States.

During his campaign, Kennedy expressed plans to support Bitcoin if elected. He positioned cryptocurrency as an alternative to the traditional financial system and criticized the “war” of American regulators against the industry.

In May 2023, he purchased 2 BTC for each of his seven children as an investment. At the time, the total amount at the average rate was approximately $420,000. By July, it was revealed that his personal investments in the leading cryptocurrency did not exceed $250,000.

In November, the politician described Bitcoin as a response to the threat of CBDCs, calling it an “elegant solution” for transactional freedom.

Back in April 2024, Kennedy proposed moving the US federal budget to blockchain to enhance transparency.