US presidential candidate donates 14 Bitcoin to his children

US Presidential candidate Robert Kennedy Jr. said he bought 2 Bitcoin for each of his 7 children.

He said this yesterday during a Twitter Space with The Wolf of All Street. 

During the podcast he said that immediately after the Bitcoin Conference, he bought two Bitcoin for each of his seven children. The Bitcoin Conference was held in Miami between 18 and 20 May this year.

At that time, the price of BTC was about $27,000, while now it has risen to about $29,500, so for now the investment is in profit. 

In total, the 14 BTC he has purchased to date have a total value that exceeds $400,000.

It is worth noting that, in early July, he had stated that he had no investments in Bitcoin, whereas in the financial disclosure form of 30 June he had stated that he had between $100,001 and $250,000 in BTC investments. 

Therefore, RFK Jr. not only invested in Bitcoin personally, but also gave BTC to his children. 

Robert Kennedy Jr.: the US presidential candidate who invested in Bitcoin

Robert Kennedy Jr. is the son of the late Bob Kennedy, and therefore grandson of former President John Fitzgerald Kennedy. 

He is also a Democratic politician, and is running in his party’s primaries to challenge current President Joe Biden for a chance to be the next Democratic candidate in next year’s presidential election. It is worth noting that pollsters, as things stand, place him as a major underdog against the incumbent president. 

RFK Jr. is in fervent support of Bitcoin, so much so that he has already spoken about it many times in public, including and especially since he ran in the primaries. 

It is possible that he is using this narrative of his about Bitcoin precisely for propaganda and electoral purposes, not least because in this way he presents himself as a kind of champion of personal freedoms, that is, in contrast to the current President Biden. 

So far this communication strategy of his seems to be working well at the communication level, but not so well at the electoral level. 

Indeed, in addition to being a public supporter of Bitcoin, and a promoter of individual liberties, RFK Jr. also has a reputation for being a no-vaxer, and this may not help him at all in winning electoral support. 

In other words, he seems to be gaining support by talking about Bitcoin, after losing many in the past few years by talking against vaccines. 

Financial freedom

One of the concepts he is insisting on, and which is probably actually helping him attract support, is the one related to the financial freedom that Bitcoin grants to those who choose to use it. 

RFK Jr. has long been insistent on the concept of freedom and democracy, so much so that he has called Bitcoin an example of democracy. 

In reality, Bitcoin does not involve any elections of any kind, so it is not really a democratic tool in the strict sense, but it is certainly a tool of freedom. 

To be fair, this narrative perhaps appeals more to the potential Republican electorate rather than it does to the Democratic electorate, which is perhaps why RFK Jr. does not seem to be garnering much electoral support. 

He turns out to be highly regarded for what he says, but perhaps for that matter not particularly so by his actual potential electorate. 

However, it is not necessarily the case that he is really only targeting Democratic voters who are regular primary voters. 

It is possible that he is also trying to appeal to part of the Republican electorate, or more importantly to that huge potential pool of voters who generally do not vote. 

It is enough to say that during the last presidential election in 2020, one-third of eligible voters did not go to the polls. In the previous one in 2016, almost 45% of eligible voters did not vote. 

In primaries, abstentionism is even higher, so it may be that RFK Jr. is not targeting classic Democratic voters who go to vote in primaries, but those who usually do not.

The investment in Bitcoin

Robert Kennedy Jr.’s investment in Bitcoin appears to be significant but not huge. 

It is estimated that he owns a total personal wealth of $50 million, including real estate and illiquid assets, so an investment of $250,000 would also constitute only 0.5% of the total wealth. 

However, it is not known how much his liquid assets amount to, so more precise estimates cannot be made. 

Even the 2 Bitcoin he gave each to his 7 children is not much. In other words, while 14 BTC in the aggregate is an even larger amount than the Bitcoin held by RFK Jr. as an individual, when considered as a whole it constitutes a decidedly small investment for such a wealthy family. 

However, this approach is very common among wealthy people who decide to invest part of their wealth in Bitcoin. 

Indeed, if the anticipation is of a significant increase in value over the years, even as little as 0.5% of the total wealth may be attractive, if the overall size of that wealth is high. 

There are quite a few wealthy people who decide to allocate no more than 2% of their total wealth to BTC, with many not even reaching 1%. 

So it certainly appears that Robert Kennedy Jr. has done his calculations well, perhaps advised by some experienced financial advisor.