Robert F. Kennedy Jr., the son of the late Robert F. Kennedy and grandson of former President John F. Kennedy, has revealed that he has invested in Bitcoin for his seven children.

Kennedy made the announcement in a recent interview with The Wolf of All Streets, a popular cryptocurrency podcast. He said that he bought two Bitcoin for each of his children immediately after attending the Bitcoin Conference in Miami in May.

“I wanted to put my money where my mouth is,” Kennedy said. “I believe that Bitcoin is the future of money, and I want my children to be a part of that future.”

The price of Bitcoin was around $27,000 at the time Kennedy made the purchase. As of today, Bitcoin is trading at around $29,500, so his investment is now worth over $400,000.

Kennedy is not the only high-profile figure who has invested in Bitcoin. Other celebrities who have publicly backed the cryptocurrency include Elon Musk, Mark Cuban, and Ashton Kutcher.

However, Bitcoin is still a volatile investment, and its price has fluctuated wildly in recent years. In 2017, the price of Bitcoin soared to over $19,000 before crashing back down to around $3,000 in 2018.

Despite the risks, Kennedy believes that Bitcoin is a sound investment. He said that he is confident that the price of Bitcoin will continue to rise in the long term.

“I think Bitcoin is going to be the dominant form of money in the future,” Kennedy said. “It’s a more secure, more efficient, and more transparent way to store and transfer value.”

Why Kennedy Invested in Bitcoin

There are a number of reasons why Kennedy decided to invest in Bitcoin for his children.

First, he believes that Bitcoin is a more secure form of money than traditional fiat currencies. Bitcoin is a decentralized currency, which means that it is not subject to government control. This makes it a more secure store of value, as it is not vulnerable to inflation or government confiscation.

Second, Kennedy believes that Bitcoin is a more efficient form of money than traditional fiat currencies. Bitcoin transactions are processed much faster than traditional bank transfers, and the fees are much lower. This makes Bitcoin a more convenient way to send and receive money.

Third, Kennedy believes that Bitcoin is a more transparent form of money than traditional fiat currencies. All Bitcoin transactions are recorded on a public ledger, which makes it easy to track the flow of money. This transparency makes Bitcoin a more accountable form of money, as it is difficult to use Bitcoin for illegal activities.

The Future of Bitcoin

Kennedy is not the only one who believes that Bitcoin is the future of money. A growing number of people are investing in Bitcoin, and the price of the cryptocurrency has been steadily rising in recent years.

There are a number of factors that could drive the price of Bitcoin even higher in the future. One factor is the increasing adoption of Bitcoin by businesses and individuals. As more people start using Bitcoin, the demand for the cryptocurrency will increase, which could drive up the price.

Another factor that could drive the price of Bitcoin higher is the increasing scarcity of the cryptocurrency. Bitcoin is a finite resource, with only 21 million coins that will ever be created. As more coins are mined, the supply of Bitcoin will decrease, which could drive up the price.

Conclusion

Robert F. Kennedy Jr. is not the only one who believes that Bitcoin is the future of money. However, he is one of the few high-profile figures who has invested in Bitcoin for his children. Kennedy’s investment is a vote of confidence in the future of Bitcoin, and it could help to drive the price of the cryptocurrency even higher in the years to come.

While Bitcoin is still a volatile investment, it has the potential to be a very profitable one in the long term. If you are considering investing in Bitcoin, it is important to do your research and understand the risks involved. However, if you are willing to take on those risks, Bitcoin could be a very rewarding investment.