Republican Vivek Ramaswamy becomes second US presidential candidate to accept Bitcoin donations

Republican Presidential candidate Vivek Ramaswamy made headlines over the weekend as he became the second candidate in the upcoming 2024 US Presidential elections to accept campaign donations through Bitcoin. Ramaswamy announced his decision during his speech at the Bitcoin 2023 conference in Miami, where he also called upon his supporters to make the upcoming election a referendum on fiat currency.

During his speech, Ramaswamy displayed a QR code that connects his supporters to a payment gateway offering various donation options, including Bitcoin and satoshis. Eligible US citizens and permanent residents can contribute up to $6,600 to Ramaswamy’s campaign and, as a token of gratitude, receive a nonfungible token (NFT).

The presidential candidate also used the opportunity to advocate for the freedom to mine Bitcoin within the United States. As the country recently surpassed China to become the global hub for mining activities, Ramaswamy expressed opposition to President Joe Biden’s proposed 30 per cent tax on electricity consumed by cryptocurrency mining operations. He deemed the tax as inappropriate, unfair, and an encroachment on federal power.

Ramaswamy noted that he plans to unveil his comprehensive Bitcoin policy, which aims to enable Bitcoin and other cryptocurrencies to function as parallel currencies. He believes this approach can help stabilize the US dollar as the primary unit of measurement, potentially limiting the Federal Reserve’s mandate to focus on currency stabilization.

The move by Ramaswamy follows in the footsteps of Robert F. Kennedy Jr., a Democratic presidential candidate, who had previously embraced cryptocurrencies by allowing donations in the form of digital currencies.

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