US Presidential Candidate Vivek Ramaswamy to Accept Bitcoin Donations for His Campaign
Vivek Ramaswamy is an American entrepreneur who has declared candidacy for the next presidential elections in the US as a Republican candidate. He has also proposed a referendum for the 2024 election for fiat currencies.
He has also announced that he will be accepting Bitcoin and sats as donations to run his campaign. With his venture into the crypto market, he has become the second US presidential candidate for 2024 accepting Bitcoin donations.
In a new message to the voters, he called for pitching in with just $1 and maintained that donations are also acceptable in the form of Bitcoin. This event transpired only two days after Robert F. Kennedy Jr. became the first ever US presidential candidate to venture into the crypto sector.
Media reports have confirmed that Robert F. Kennedy Jr. has accepted Bitcoin to campaign funding from his supporters. Ramaswamy has talked about his starting a public dialogue on fiat currencies.
Ramaswamy has Promised American Voters to Start a Referendum on Fiat Currencies
Ramaswamy appeared at the Bitcoin conference in Miami, Florida. He talked about starting a referendum on fiat currency as part of his 2024 election campaign. He shared a QR code with the participants of the Bitcoin conference during his stage presentation in Miami.
The participants who wish to donate to his cause were able to scan the QR code and send their donations directly to the payment gateway.
The QR code took them to an exclusive payment gateway with multiple payment options such as euro, GBP, and USD among other fiat currencies.
At the same time, the donors may also opt for making the payment in the form of Bitcoin or Satoshis which are the smallest unit of Bitcoin. He was using BitPay as a third party payment facilitator to collect political donations.
It is worth noting that Ramaswamy has listed Bitcoin as the only cryptocurrency on his Bitpay payment gateway. However, Bitpay deals in other altcoins such as BCH, ETH, LTC, DOGE, SHIB, APE, and others.
The eligible voters have the option to donate as much as $6,600 to support the Republican candidate. However, their donations will not count as tax deductibles under charitable contribution laws of Federal Income tax regulations.
However, donors are set to receive an exclusive NFT after donating to the Ramaswamy campaign. Kansas House of Representatives has proposed a $100 limit for all crypto donations to politicians.
All donations that are under $100 in the form of crypto are mandated to be converted into USD with immediate effect. At the same time, the law requires politicians to not hold or use cryptocurrencies to settle bills and cover expenses.
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