Does RFK Jr. really store “most” of his money in bitcoin? We found out

As an independent candidate for president, Robert F. Kennedy Jr. frequently talked up his love of cryptocurrency.

In July, the current nominee to lead the US Department of Health and Human Services said he put “most of his wealth into bitcoin.” That assertion again made headlines this week after Kennedy called bitcoin “the currency of freedom.”

Kennedy officially dropped out of the presidential race on August 23, but an early July ethics disclosure — amended by RFK Jr. on August 7 and 13 — put some hard numbers on his crypto holdings.

According to the US Office of Government Ethics disclosure form, as of the August 7 update, Kennedy had between $500,001 and $1,000,000 worth of bitcoin with Fidelity Crypto. On August 7, the price of BTC was about $55,000.

In June 2023, he had disclosed holding between $100,001 and $250,000 in bitcoin. At that time the coin’s price hovered between $25,000 and $30,000, meaning the increase in his holdings could be due to bitcoin’s price increase, not additional investments in the cryptocurrency.

Also notable in the August filing, Kennedy disclosed owning between $50,001 and $100,000 worth of Marathon Digital, a bitcoin-mining company.

Finally, the disclosures also reveal that RFK Jr. has quite a lot of wealth that’s not in bitcoin, including somewhere between $1 and $5 million in a Northern Funds US Government Money Market Fund alone, as well money in many ETFs and real estate.

So, even if you add up the bitcoin holdings and add in his Marathon Digital assets, it’s still a far cry from “most” of his wealth being in bitcoin.

The price of bitcoin, as well as the share price of bitcoin-mining companies like Marathon Digital, has steadily climbed since Trump’s election win earlier this month. Kennedy endorsed Trump, who ran a loudly pro-crypto campaign, after he left the race.