As of today, Vivek Ramaswamy is the second American presidential candidate for 2024 to formally accept Bitcoin (BTC) contributions for his campaign.
Ramaswamy announced that he now accepts Bitcoin donations and asked for just $1.
Just two days prior, Robert F. Kennedy Jr. had become the first presidential candidate in American history to accept Bitcoin as campaign contributions.
Ramaswamy declared on stage at Bitcoin 2023 in Miami, Florida,
“Let’s make the 2024 election a referendum on fiat currency.”
On stage, Ramaswamy flashed a QR code that, when scanned, directed viewers to a payment gateway with a variety of contribution options, including BTC and satoshis, the smallest unit of currency in the Bitcoin system.
Ramaswamy chose BitPay’s payment platform to accept the bitcoin donations But BitPay also accepts a variety of other cryptocurrencies, such as Bitcoin Cash, Ether, ApeCoin, Litecoin, and Dogecoin.
The campaign will accept donations of up to $6,600 from eligible citizens and permanent residents, but these contributions will not qualify as charitable deductions for federal income tax purposes.
The contribution page states,
“After donating, come back to claim your NFT.”
Donors will receive a nonfungible token (NFT), according to the statement.
Legislators in the Kansas House of Representatives filed a bill in February that would set a cap on cryptocurrency political donations at $100.
Donations of less than $100 would require the recipient to “immediately convert” the cryptocurrency to dollars, refrain from using it for purchases, and not hoard the money.
Is there any usecase for blockchain technology apart from cryptocurrency?
About Kumo
Kumo, registered as Kumo Technologies Inc in Delaware, U.S. is a fiat and crypto social payment app which allows users to exchange fiat (NGN) to crypto, save and earn interest in dollar with as low as $5, utility payment such as DSTV subscription, airtime, data among others.
Kumo wallet is your all-in-one social payment app for seamless payment solutions.
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