Former presidential candidate Robert F. Kennedy Jr. stated at UFC 309 in New York City on Saturday that a significant part of his wealth is in Bitcoin (CRYPTO: BTC).

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What Happened: Kennedy, who is an outspoken proponent of Bitcoin, shared in an interview that “most” of his wealth is in Bitcoin and that he is “committed.”

This statement follows his participation in the Bitcoin Conference 2024, where he disclosed, “After attending the Bitcoin conference, I invested all my wealth in BTC.”

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In a post on X on Saturday, Kennedy dubbed Bitcoin the "currency of freedom," emphasizing its potential as a safeguard against U.S. national debt and inflation. He also pointed to Bitcoin's ability to challenge the dollar's dominance as the global reserve currency.

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Why It Matters: Kennedy has consistently praised Bitcoin for its role as a hedge against economic instability.

His proposal to transfer 200,000 BTC held by the Department of Justice and U.S. Marshals to the U.S. Treasury demonstrates his belief in Bitcoin as a strategic asset.

He further suggested the Treasury Department begin purchasing 550 BTC daily to build reserves to four million BTC.

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This endorsement aligns with President-elect Donald Trump picking Kennedy as his Secretary of Health and Human Services.

Trump has reportedly granted Kennedy Jr. broad authority to address systemic challenges in the U.S. healthcare system but is yet to formally nominate the former Democrat for a role in his cabinet.

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.