Did RFK Jr double his net worth to around $30 million buying Bitcoin last year? News ▸ US ▸ Bitcoin ▸ option Did RFK Jr double his net worth to around $30 million buying Bitcoin last year?
RFK Jr now claims \'most\' of his wealth is in Bitcoin rather than the 14 BTC previously declared.
Liam \'Akiba\' Wright Jul. 26, 2024 at 2:06 pm UTC 2 min read
Updated: Jul. 26, 2024 at 2:07 pm UTC X Telegram LinkedIn Email 
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Today, presidential candidate Robert F. Kennedy Jr. (RFK Jr) said he left last years Bitcoin Conference with most of his wealth in Bitcoin. Forbes last reported his net worth at $15 million. Given that last years conference was on May 18, when Bitcoin traded at $26,400, RFK Jr. may have doubled his wealth by investing in Bitcoin.
Since last years event, Bitcoin has increased 154%, meaning that a $10 million purchase of Bitcoin on the last day would now be worth around $25 million. RFK Jr. did not confirm precisely the amount of Bitcoin he purchased, but given that he stated it was most of his wealth, we can theorize that hes done very well in the trade.
At the time, he admitted buying 14 BTC for his seven children for around $380,000. However, todays revelation suggests that he purchased considerably more. He now states hes fully committed.
RFK Jrs Friday Keynote address
Taking the stage at one of the most influential events in the Bitcoin calendar, Kennedy will further elaborate on his stance towards 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 equivalent to the countrys gold reserves, framing this initiative as an offramp to the inflationary 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 critical area in which Kennedy has voiced explicit opinions. He advocates for a regulatory framework that protects consumers from deceptive schemes while opposing the SECs current war on crypto. This balanced approach aims to foster innovation in the blockchain space while ensuring consumer protection.
On the tax front, Kennedy has vowed to exempt Bitcoin from taxes if elected, arguing that it should be treated as a currency rather than being subjected to capital gains tax. This proposal is part of his broader economic vision, which includes backing the US dollar with Bitcoin to enhance the countrys financial robustness.
Kennedys push for government transparency extends to his proposal to put the federal budget on the blockchain, aiming to increase accountability and reduce corruption. He also emphasizes the importance of sovereignty over personal wallets and transactional freedom, which he believes are critical components of a decentralized and innovative economy.
As an environmental lawyer, Kennedys support for Bitcoin is notable, given the ongoing debates about its energy consumption. He acknowledges these concerns but seems to weigh them against the broader benefits he perceives in the cryptos adoption.
As Kennedy takes the podium at the Bitcoin Conference, his remarks are expected to resonate deeply with advocates and skeptics alike, further cementing his role as a leading voice in the intersection of politics and digital assets. Hopefully, we will get further clarification on whether he has purchased more Bitcoin, potentially doubling his net worth, or whether he simply misspoke in some way earlier today.