Independent presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has received only $61,000 in Bitcoin donations since 2023, according to an analysis by blockchain analytics platform Breadcrumbs.
This amount is relatively small compared to Kennedy’s overall fundraising achievements. OpenSecrets reports that his 2024 campaign has raised over $100 million.
Challenges in Tracking Bitcoin Donations
The Federal Election Commission (FEC) records show that Kennedy’s campaign collected $61,000 in Bitcoin donations between June and September 2023. However, since October 1, 2023, the campaign has not reported any additional Bitcoin donations. This change could indicate a decline in Bitcoin contributions or a shift in reporting methods.
Breadcrumbs highlighted that Kennedy’s campaign uses OpenNode to process Bitcoin through the Lightning Network, which operates off-chain and complicates donation transparency. The campaign also employs multiple stealth Bitcoin addresses, creating a new address for each donation, further obscuring the total amount received.
Breadcrumbs noted that finding accurate Bitcoin donation data has been difficult due to the lack of transparent reporting by the campaign. The total amount of Bitcoin donations might be higher, especially considering contributions received during the recent Bitcoin Conference.
RFK Jr.’s Support for Bitcoin
Despite the limited Bitcoin donations, RFK Jr. continues to support the digital asset. He was the first U.S. presidential candidate to accept Bitcoin donations last year and has advocated for pro-crypto policies throughout his campaign.
At the recent Bitcoin Conference, Kennedy revealed that a significant portion of his wealth is invested in Bitcoin. He promised that his administration would foster the growth of the cryptocurrency industry.
Kennedy plans to sign an executive order on his first day in office, making Bitcoin a strategic reserve asset for the United States. He also proposed exempting Bitcoin from taxes and treating it as a currency rather than subjecting it to capital gains tax. These plans are part of his broader economic strategy to back the U.S. dollar with Bitcoin and strengthen the nation’s financial stability.
These positions have garnered support from notable crypto figures, including Cardano founder Charles Hoskinson.
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