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US Presidential Candidate Vivek Ramaswamy to Accept Bitcoin Donations for Campaign

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  • Ramaswamy expressed his intention to turn the 2024 election into a vote on traditional currency.
  • Vivek Ramaswamy has become the second US Presidential candidate to openly accept Bitcoin donations, worth $27,101, for the upcoming 2024 elections.

Ramaswamy, while announcing his acceptance of Bitcoin donations, encouraged supporters to contribute as little as $1. This news followed Robert F. Kennedy Jr.’s recent decision to become the first US presidential candidate to accept Bitcoin campaign donations. Ramaswamy expressed his desire to make the 2024 election a vote on traditional currency.

US Presidential candidate Vivek Ramaswamy announcing accepting Bitcoin donations. Source: Facebook

During his stage appearance, Ramaswamy displayed a QR code that, when scanned, directed users to a payment gateway. This gateway provided multiple options for making donations, including Bitcoin (BTC) and Satoshi (sats), which is the smallest unit of Bitcoin.

Payment options for Ramaswamy’s donations showing BTC and sats. Source: support.vivek2024.com

Ramaswamy chose to use BitPay’s payment service to receive Bitcoin donations. BitPay also supports various other cryptocurrencies, such as Bitcoin Cash (BCH), Ether (ETH), ApeCoin (APE), Litecoin (LTC), Dogecoin (DOGE), and Shiba Inu (SHIB), among others.

US citizens and permanent residents who meet the requirements can contribute up to $6,600 to the campaign. It’s important to note that these donations are not tax-deductible for federal income tax purposes. Donors will receive a nonfungible token (NFT) as a token of appreciation. The donation page instructs donors to return after making their donation to claim their NFT.

Lawmakers in the Kansas House of Representatives presented a bill in February that suggested limiting cryptocurrency political donations to a maximum of $100.

According to the proposed rule, if the donation is less than $100, the recipient would be required to promptly convert the cryptocurrency into US dollars, refrain from using the cryptocurrency for expenses, and avoid holding onto the funds.

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Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.

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