Former presidential candidate Robert F. Kennedy Jr. declared on Saturday at UFC 309 in New York City that a significant portion of his wealth is inside Bitcoin (CRYPTO:BTC).
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What happened: Kennedy, an outspoken supporter of Bitcoin, shared in an interview that “most” of his wealth is in Bitcoin and that he is “committed.”
This statement follows his participation at the Bitcoin Conference 2024, where he revealed: “After attending the Bitcoin conference, I invested all my assets in BTC.”
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In a message at X On Saturday, Kennedy called Bitcoin the “currency of freedom,” highlighting its potential as a hedge against the U.S. national debt and inflation. He also pointed to Bitcoin’s ability to challenge the dollar’s dominance as a global reserve currency.
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Why it’s important: Kennedy has consistently praised Bitcoin for its role in protecting against economic instability.
His proposal to transfer 200,000 BTC, held by the Justice Department and US Marshals, to the US Treasury Department shows his belief in Bitcoin as a strategic asset.
He further proposed that the Treasury Department would start purchasing 550 BTC daily to build up reserves of up to four million BTC.
See also: If you had invested $100 in DOGE when Elon Musk first tweeted about it in 2019, here is how much you would have today.
This approval corresponds to the elected president Donald Trump Kennedy as his Secretary of Health and Human Services.
Trump has Kennedy Jr. reportedly granted broad powers to address systemic challenges in the U.S. health care system, but has yet to formally nominate the former Democrat for a role in his Cabinet.
What’s next: Bitcoin’s influence as an institutional asset class is expected to be explored in depth at Benzinga’s upcoming Future of Digital Assets event on November 19.
