May 21, 2023 10:04 UTC
May 21, 2023 at 10:04 UTC
Vivek Ramaswamy, a contender for the US presidency, will accept bitcoin for donations to his campaign.
Ramaswamy suggested, “Let’s make the 2024 election a referendum on fiat currency.”
For the upcoming 2024 elections, Vivek Ramaswamy is now the second American presidential contender to formally take Bitcoin BTC tickers down $27,092 contributions.
Ramaswamy stated, “Give $1,” while announcing that he was taking Bitcoin donations. Just two days prior, Robert F. Kennedy Jr. had become the first presidential contender in American history to accept Bitcoin as campaign contributions. Ramaswamy suggested, “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 Satoshi (sats), the smallest unit of currency in the Bitcoin system.
For the purpose of accepting Bitcoin donations, Ramaswamy chose BitPay’s payment service. But BitPay also accepts other cryptocurrencies, such as Bitcoin Cash BCH tickers down $116, Ether ETH tickers down $1,815, ApeCoin APE tickets down $3.43, Litecoin LTC tickers down $92.30, Dogecoin DOGE tickers down $0.07, and Shiba Inu SHIB tickets down 0.00000009.
For the purposes of federal income tax deductions, eligible citizens and permanent residents may contribute up to $6,600 to the campaign; however, these contributions are not deductible as charitable contributions. As it states on the contribution website, “After donating, come back to claim your NFT.” donors will receive a nonfungible token (NFT).
Legislators in the Kansas House of Representatives filed a bill in February that would set a cap on cryptocurrency political donations at $100.
Donations under $100 would require the recipient to “immediately convert” the cryptocurrency to dollars, refrain from using the cryptocurrency for purchases, and refrain from hodling the funds.