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Crypto News

Vivek Ramaswamy, A Candidate For President Of The United States, Will Accept Bitcoin Donations

Author

Jay Solano

Tags

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Reading time

2 mins
Last update

bitcoin

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Ramaswamy stated, “Let’s make the 2024 election a referendum on fiat currency.”

Vivek Ramaswamy is the second 2024 US presidential candidate to publicly accept $26,658 Bitcoin donations for his campaign.

“Give $1,” Ramaswamy said when he said he would take Bitcoin gifts. The news came out just two days after Robert F. Kennedy Jr. became the first presidential candidate in U.S. history to accept Bitcoin donations. On stage at Bitcoin 2023 in Miami, Florida, Ramaswamy said, “Let’s make the 2024 election a referendum on fiat currency.”

Vivek Ramaswamy, a candidate for president of the United States, said that his campaign would accept Bitcoin donations. Source: Facebook

As shown above, Ramaswamy showed a QR code on stage that, when read, would take people to a payment gateway with many ways to donate, including BTC and satoshis, the smallest denomination of Bitcoin.

Ramaswamy used BitPay’s payment service to accept Bitcoin donations. But BitPay works with other cryptocurrencies, such as $113 Bitcoin Cash, $1,802 Ether, $3.44 ApeCoin, $91.05 Litecoin, $0.07 Dogecoin, and $0.000009 Shiba Inu, among others.

U.S. citizens and permanent residents who are eligible can give up to $6,600 to the campaign. This amount is not tax-deductible as a donation to charity for federal income tax reasons. Donors will be given a nonfungible token (NFT), and the donation page says, “After donating, come back to claim your NFT.”

In February, lawmakers in the Kansas House of Representatives proposed a bill to put a $100 limit on crypto donations to political campaigns.
For gifts under $100, the recipient must “immediately convert” the cryptocurrency into U.S. dollars, not spend the cryptocurrency for expenditures, and not keep the funds.