A candidate for the US presidency purchases 14 bitcoins for his kids

Moves of Kennedy

The elder Kennedy recently revealed his foray into the cryptocurrency realm, admitting that he bought an enormous amount of Bitcoin, or BTC, earlier this year. Kennedy’s revelation that he had bought two BTC for every one of his seven cherished children shocked a lot of people. Kennedy spoke intelligently with prominent cryptocurrency investor and podcaster Scott Melker in an Instagram Spaces interview. Kennedy described Bitcoin as the “currency of freedom” in this conversation, explaining the currency’s popularity to the decentralized and liberating features of the electronic currency.

Kennedy spoke intelligently with prominent cryptocurrency investor and podcaster Scott Melker in an online Spaces interview. It was difficult for Kennedy to decide to invest in Bitcoin. The well-known Democratic presidential candidate came under considerable media and bitcoin industry expert scrutiny after making pro-Bitcoin comments at the Bitcoin Association’s Miami Conference in May. Kennedy remained steadfast in his opinion that Bitcoin had the potential to completely alter the financial landscape in spite of the criticism.

Despite criticism, Kennedy Backs Up His Words With Bitcoin Investment

The lawmaker acknowledged that he came under fire for promoting a “volatile commodity” while having no personal stake in it. He chose to make investments in the digital asset personally, though, after receiving a sizable reward during the Bitcoin conference. Kennedy explained as follows in his own words:

I received a sizable check soon after the Bitcoin conference and decided to “put my cash where my mouth is” by purchasing two bitcoins for each of my seven kids.

According to rumors from earlier this month, the Kennedy family had around $100,000 and $250,000 worth of Bitcoin. As of the moment, CoinGecko price data suggests that the asking price of Bitcoin is $29,468, making Kennedy’s investment worth $412,552 at the current price.

The Goals Of Kennedy’s Cryptocurrency

Kennedy outlined his plans to back the US currency with Bitcoin and exempt the digital asset from taxation on capital gains if elected president throughout the same interview, remaining steadfast in his outlook for the future. Although online betting services estimate Kennedy’s chances of winning the Democratic party’s nomination at 11.1%, he has received a lot of support from fervent bitcoin aficionados despite the fact that the probabilities might not work in his favor. The crypto community has responded favorably to Kennedy’s audacious plans, drawing ardent followers who are convinced that distributed ledger technology as well as electronic currencies have the power to fundamentally alter the financial environment. His position on cryptocurrency-related initiatives has surely won him a dedicated base among others who reflect his passion for a crypto-friendly future, even though the road to victory may be difficult.