Vivek Ramaswamy has become the second 2024 presidential candidate in the United States to announce his acceptance of Bitcoin donations for his campaign. Within days of Robert F. Kennedy Jr.’s historic decision to embrace Bitcoin donations, Ramaswamy declared his support for the cryptocurrency. During his appearance at the Bitcoin 2023 conference in Miami, Florida, Ramaswamy encouraged supporters to contribute as little as $1 and make the upcoming 2024 election a referendum on fiat currency.
Onstage, Ramaswamy displayed a QR code that, when scanned, directed users to a payment gateway featuring various donation options, including Bitcoin (BTC) and satoshis—the smallest unit of Bitcoin. U.S. citizens and permanent residents who meet the eligibility criteria can donate up to $6,600 for Ramaswamy’s campaign. However, these contributions are not tax-deductible as charitable donations. As an incentive, donors will receive a nonfungible token (NFT), and the donation page promises, “After donating, come back to claim your NFT.”
It’s worth noting that in February, legislators in the Kansas House of Representatives proposed a bill that would impose a $100 cap on cryptocurrency political donations. Under this proposal, candidates receiving donations below $100 would be required to promptly convert the crypto into U.S. dollars, refrain from using the digital assets for campaign expenses, and avoid holding the funds as investments.