Robert Kennedy Jr. Buys Bitcoin worth over $400K for his Seven Children

Democratic presidential candidate Robert F. Kennedy Jr. bought Bitcoin for his seven children. Each child received two Bitcoin. This happened after he spoke positively about Bitcoin at a conference. Critics said he was promoting a risky investment without owning any himself.

Following the conference, Kennedy decided to invest in Bitcoin. "I received a big check and thought, let's invest where I believe. So I bought two Bitcoin for each of my seven children," he said.

Kennedy has six biological children. The seventh child is from his current wife Cheryl Hines, who had a daughter before they got married in 2014.

Kennedy had previously said at the conference that he did not own any Bitcoin. He also mentioned he was not there to give investment advice.

This is the first time Kennedy has publicly said that he owns Bitcoin. This matches with a leaked report that showed he had Bitcoin worth between $100,001 and $250,000 at the end of June. If he had bought 14 Bitcoin at an estimated price of $26,800 each after the conference, his Bitcoin would now be worth more than $380,000.

Currently, one Bitcoin costs $29,327. This means that Kennedy's investment is now worth about $410,000. 

In an interview, Kennedy said that if he becomes President, he plans to back the U.S. dollar with Bitcoin. He also wants to make Bitcoin free from capital gains tax. He believes Bitcoin can help bring back innovation to America. However, he said that tax breaks on Bitcoin should mainly benefit small investors and businesses, not big companies like BlackRock and Goldman Sachs.