Vivek Ramaswamy becomes the second 2024 presidential candidate in the United States to officially accept Bitcoin (BTC) donations for his campaign.
“Give $1,” said Ramaswamy while announcing that he accepts Bitcoin donations. The revelation came just two days after Robert F. Kennedy Jr. became the first presidential candidate in United States history to accept campaign donations in Bitcoin. Speaking on stage at Bitcoin 2023 in Miami, Florida, Ramaswamy stated, “Let’s make the 2024 election a referendum on fiat currency.”
As shown above, Ramaswamy flashed a QR code while on stage, which, when scanned, would redirect users to a payment gateway that offers various payment options for donations, including BTC and satoshis — the smallest denomination of Bitcoin.
Ramaswamy opted for BitPay’s payment service to receive Bitcoin donations. However, BitPay supports other cryptocurrencies, including Bitcoin Cash (BCH), Ether (ETH), ApeCoin (APE), Litecoin (LTC), Dogecoin (DOGE) and Shiba Inu (SHIB), among others.
Eligible U.S. citizens and permanent residents can donate up to $6,600 for the campaign, which is not deductible as charitable contributions for federal income tax purposes. Donors will be awarded a nonfungible token (NFT), with the donation page stating, “After donating, come back to claim your NFT.”
In February, lawmakers in the Kansas House of Representatives introduced a bill proposing a cap of $100 when it comes to crypto political donations.
For donations under $100, the receiver would need to “immediately convert” the crypto to U.S. dollars, not use the crypto for expenditures, and not hodl the funds.