Breaking News: Vivek Ramaswamy Paves The Way For Bitcoin In US Politics!
- Vivek Ramaswamy, the second US Presidential candidate to officially accept Bitcoin donations for the 2024 elections.
- Eligible US citizens can donate up to $6,600. Donors will receive a non-fungible token (NFT) as a reward.
- In February, lawmakers in Kansas introduced a bill proposing a cap of $100 for crypto political donations, subject to certain conditions.
Vivek Ramaswamy recently made headlines when he became the second Presidential candidate in the United States to accept Bitcoin donations for the upcoming 2024 elections.
In a public statement, he urged supporters to donate just $1 towards his campaign, indicating that he was accepting Bitcoin donations. Ramaswamy’s 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.
Ramaswamy’s decision to accept Bitcoin donations is significant, as it reflects a growing interest in cryptocurrency and a desire to make the 2024 election a referendum on fiat currency. During his announcement, Ramaswamy even 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 Satoshi (sats) — the smallest denomination of Bitcoin.
It’s worth noting that 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. In addition, donors will be awarded with a non-fungible token (NFT) as the donation page mentions, “After donating, come back to claim your NFT.” This is a unique way to reward supporters and create a sense of community around the campaign.
Interestingly, lawmakers in the Kansas House of Representatives recently introduced a bill proposing a cap of $100 when it comes to crypto political donations. If this bill were to pass, any donations under $100 would need to be immediately converted to U.S. dollars, not used for expenditures, and not held onto by the receiver.
Ramaswamy’s decision to accept Bitcoin donations is a bold move that reflects a changing political landscape. It will be interesting to see how other candidates respond to this move and whether it will have any impact on the outcome of the 2024 election.
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