In an illuminating revelation, Robert F. Kennedy Jr. confirmed he is a member of the Bitcoin brigade, a standpoint he previously contested. The disclosure surfaced in a Twitter Spaces session with Scott Melker, the host of The Wolf of All Street podcast.
During the discussion, Kennedy unveiled that his change of heart occurred in the aftermath of his attendance at the Miami-based Bitcoin Conference held in May this year. “Right after the Bitcoin Conference, I decided to put my money where my mouth is and bought two bitcoin for each of my seven children”, he shared. Notably, Kennedy’s voice in favor of Bitcoin proved to be louder at this event.
However, this proclamation does spark some discord, as Kennedy recently pledged that, if he were to secure presidential office, he would exempt Bitcoin from capital gains taxes and begin supporting the U.S. dollar with tough assets such as Bitcoin.
This commitment comes on the heels, though, of an earlier CNBC report where Kennedy negated his role as a Bitcoin investor, contradicting a financial disclosure form submitted on June 30 revealing his ownership of the cryptocurrency valued between $100,001 and $250,000.
An attempt to clarify this fractured narrative came from Kennedy’s campaign, firstly crediting the Bitcoin assets’ ownership to Kennedy’s wife, only to backtrack and affirm they did, in fact, belong to Kennedy.
Between the layers of this narrative, it becomes apparent that a paradox has emerged. While the move to purchase Bitcoin could highlight a personal assertion in the cryptocurrency’s potential, it also casts a lingering question on whether Kennedy’s political agenda could sway the stability and the credibility of the cryptocurrency.
On the one hand, endorsing Bitcoin might spur its adoption amongst everyday investors. On the flip side, it could be perceived as a conflict of interest, potentially influencing Bitcoin’s future legislation under Kennedy’s potential presidency.
Yet, the diplomatic see-saw of his comments both fuels the Bitcoin community’s enthusiasm while leaving room for questioning the broader implications of Kennedy’s potential policy on the cryptocurrency landscape. Thus, underlining a test of trust, not only for Kennedy but also for the cryptosphere’s future.
Source: Coindesk
