Kennedy has the majority of his assets in Bitcoin

The future “ministro” of health of the next Trump government, Robert Kennedy Jr, has stated that he has invested a large part of his wealth in Bitcoin. 

Such statement dates back a few months, but it has resurfaced now that he has been appointed by Trump as Secretary of Health and Human Services for his upcoming administration, which will take office on January 20. 

Kennedy’s statements on Bitcoin

Kennedy has been a supporter of Bitcoin for quite some time, so much so that he talked about it on his official X profile a year and a half ago. 

Recently, he defined BTC as the currency of freedom, and a hedge against inflation for the American middle class, as well as a remedy against the downgrading of the dollar from the world reserve currency and an escape from a ruinous national debt.

Three months ago, he spoke at the Bitcoin Conference in Nashville, the one where Donald Trump also spoke. 

During his speech, Robert Kennedy Jr declared that he is a great supporter of Bitcoin, and that after attending the Bitcoin Conference the previous year, he returned home and invested most of his wealth in Bitcoin.

He then added that he is now completely committed to Bitcoin. 

Bitcoin and US politics, not just Kennedy

The next Trump administration not only promises to be favorable to the crypto sector, but also a supporter of Bitcoin. 

First of all, there is the same new president, who owns BTC and ETH and has intervened in explicit support of the crypto sector during the Bitcoin Conference in Nashville. 

There is then the new minister of health Robert Kennedy Jr. 

There is also Elon Musk, who technically will not be part of the government, but has been put in charge of an external commission that is working together with the government to cut public waste. Musk mainly promotes Dogecoin, so much so that he has named his new commission DOGE (Department Of Government Efficiency), but in fact, he is also pro-Bitcoin.

By now almost the entire Republican party, to which Trump belongs, follows the policy of the new president in favor of the crypto sector, and even among the Democrats it seems that those who would like to clip the wings of this sector are in decline. 

Indeed, perhaps even the apparent hostility of several Democrats towards the crypto sector might have caused them to lose votes in the elections a few weeks ago. 

Bitcoin and the USA

The fact is that Bitcoin could have a role in the financial management of a State like the USA, although absolutely marginal, at least for now. 

Trump has indeed promised to establish a state reserve in BTC, simply by not selling the BTC that the USA already has in its possession (about 200,000) after seizing them over time from various scams. 

Until now, the USA has always ended up selling the BTC acquired in this way, while now with Trump they might decide to keep them. 

Furthermore, Republican Senator Cynthia Lummis has proposed to replenish this fund with another 200,000 BTC per year for five years, in order to reach one million Bitcoin held by the US government (almost one twentieth of all those in existence). 

Bitcoin and the other States

Something similar has just been proposed by the Polish presidential candidate Sławomir Mentzen.

Mentzen is the president of the right-wing party Nuova Speranza, so he is close to Trump’s ideas. However, he does not have much power in Poland, as he does not have any senators and has only 18 deputies out of 460. 

In El Salvador, not only was Bitcoin declared legal tender in 2022, but the government has been purchasing 1 BTC per day for many months, now owning 5,900. Their current value, exceeding 500 million dollars, is equivalent to 1.5% of the entire Gross Domestic Product of the country.

Another state that has opened its doors to the crypto sector is the United Arab Emirates (UAE), where Dubai is located, which has become one of the major crypto hubs in the world. 

Not to mention Switzerland, which is the first true crypto hub that has ever emerged in the world. The Ethereum Foundation, for example, is based there, and even Tether now has its operational headquarters in Lugano. 

In China, however, there is still formally a ban on crypto, but in Hong Kong, they have started to open up, and the ban seems to have its hours, or days, numbered. 

India, on the other hand, is still far behind from this point of view, but it is certainly not a country known for its innovative drive. 

By now, there are few countries openly and concretely opposed, while there are more and more that are considering giving Bitcoin some type of role in their economy, or in their finances.