US Presidential candidate Vivek Ramaswamy to just accept Bitcoin for marketing campaign donations

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Vivek Ramaswamy turns into the second Presidential candidate in america to formally settle for Bitcoin (BTC) donations for the upcoming 2024 elections. 

“Give $1,” mentioned Ramaswamy whereas saying that he was accepting Bitcoin donations. The revelation got here simply two days after Robert F. Kennedy Jr. turned the primary presidential candidate in United States historical past to just accept marketing campaign donations in Bitcoin. Ramaswamy acknowledged, “Let’s make the 2024 election a referendum on fiat forex.”

US Presidential candidate Vivek Ramaswamy saying accepting Bitcoin donations. Supply: Fb

As proven above, Ramaswamy flashed a QR code whereas on stage, which when scanned, would redirect customers to a fee gateway that provides numerous fee choices for donations, together with BTC and Satoshi (sats) — the smallest denomination of Bitcoin.

Cost choices for Ramaswamy’s donations exhibiting BTC and sats. Supply:

Ramaswamy opted for BitPay’s fee service for receiving Bitcoin donations. Nonetheless, BitPay helps different cryptocurrencies together with Bitcoin Money (BCH), Ether (ETH), ApeCoin (APE), Litecoin (LTC), Dogecoin (DOGE) and Shiba Inu (SHIB) amongst others.

Eligible U.S. residents and everlasting residents can donate as much as $6,600 for the marketing campaign, which isn’t deductible as charitable contributions for federal earnings tax functions. Donors will likely be awarded with a nonfungible token (NFT) because the donation web page mentions “After donating, come again to assert your NFT.”

Associated: FTX seeks to claw again political donations by the top of February

In February, lawmakers within the Kansas Home of Representatives launched a invoice proposing a cap of $100 with regards to crypto political donations.

For donations beneath $100, the receiver would want to “instantly convert” the crypto to U.S. {dollars}, not use the crypto for expenditures, and never HODL the funds.

Journal: Hyperbitcoinization is underway, RFK seeks Bitcoin donations and different information: Hodler’s Digest, Might 14-20