Vivek Ramaswamy, a Contender for the US Presidency, Will Accept Bitcoin for Campaign Contributions

Published on:

Last Updated on May 21, 2023 by Bitfinsider

As of today, Vivek Ramaswamy is the second American presidential candidate for 2024 to formally accept Bitcoin contributions for his campaign.

Ramaswamy announced that he now accepts Bitcoin donations and asked for just $1. Just two days prior, Robert F. Kennedy Jr. had become the first presidential contender in American history to accept Bitcoin as campaign contributions. Ramaswamy declared on stage at Bitcoin 2023 in Miami, Florida, “Let’s make the 2024 election a referendum on fiat currency.”

As shown above, while Ramaswamy was speaking on stage, he flashed a QR code that, when scanned, directed viewers to a payment gateway with a variety of contribution options, including BTC and satoshis, the smallest unit of currency in the cryptocurrency.

Ramaswamy chose BitPay’s payment platform to accept Bitcoin contributions. However, BitPay also accepts a number of different cryptocurrencies, such as Shiba Inu, Apecoin, Dogecoin, Litecoin, Ether, and Bitcoin Cash.

The campaign will accept donations of up to $6,600 from eligible citizens and permanent residents, but these contributions will not qualify as charitable deductions for federal income tax purposes. The contribution page states, “After donating, come back to claim your NFT.” Donors will receive a nonfungible token (NFT), according to the statement.

Legislators in the Kansas House of Representatives filed a bill in February that would set a cap on cryptocurrency political donations at $100.

Donations of less than $100 would require the recipient to “immediately convert” the cryptocurrency to dollars, refrain from using it for purchases, and not hoard the money.

Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.