Contradictory Statements
During his keynote address at Bitcoin 2023 in Miami back in May, Kennedy expressed praise for Bitcoin and advocated for the nurturing and protection of the network. However, he also made it clear that he was not personally invested in Bitcoin and that his endorsement of the cryptocurrency did not constitute investment advice.
Financial disclosure documents obtained by CNBC, however, paint a different picture. These documents reveal that Kennedy’s family holds between $100,001 and $250,000 worth of Bitcoin in a brokerage account as of June 30. The filing does not specify when the investment was made, but it does state that the income generated from the purchase is less than $201.
No Conflict of Interest
Kennedy’s campaign manager, Democratic Representative Dennis Kucinich, asserts that there is no conflict of interest, emphasizing that the purchase was made after Kennedy’s positive remarks about Bitcoin in Miami.
Initially, Kennedy’s campaign claimed that the Bitcoin holdings belonged to his wife, Cheryl Hines, who is known for her work on the television show “Curb Your Enthusiasm.” However, the campaign later corrected this statement and confirmed that the Bitcoin investment does indeed belong to Kennedy himself.
While Kennedy has been a vocal advocate for Bitcoin among Democratic candidates, Republican contenders like Florida Governor Ron DeSantis and Vivek Ramaswamy have also tried to court support from Bitcoin enthusiasts.
Although Kennedy’s comments on Bitcoin have become less frequent since his appearance in Miami, he has occasionally taken to Twitter to express his support for the leading cryptocurrency.
In a tweet on June 27, Kennedy stated, “Bitcoin is not only a bulwark against totalitarianism and the manipulation of our money supply, it points the way toward a future in which government institutions are more transparent and more democratic.”
If elected president, Kennedy pledges to uphold the rights of individuals to use and hold Bitcoin without infringement.
Support from the Cryptocurrency Community
Kennedy has garnered support from influential members of the crypto community, including Block CEO Jack Dorsey, who expressed confidence in Kennedy’s ability to emerge victorious over DeSantis or even former President Donald Trump in an election.
However, before facing these Republican contenders, Kennedy must first secure victory against President Joe Biden in the Democratic presidential primaries.