Ramaswamy Accepts Bitcoin Donations

The second presidential candidate in the United States to accept Bitcoin contributions for the 2024 election is Vivek Ramaswamy. Bitcoin is a decentralized digital currency.

“Donate $1,” As Ramaswamy announced that he would accept Bitcoin donations, he made this statement.

The news broke just two days after Robert F. Kennedy Jr. made history by becoming the first presidential candidate in the United States to accept donations in the cryptocurrency Bitcoin.

Ramaswamy suggested, “Let’s make the elections of 2024 a referendum on fiat currency.”

As can be seen in the image above, Ramaswamy displayed a QR code that, when scanned, would direct users to a payment gateway that accepts various donation methods, including Bitcoin and Satoshi (sats), which is the smallest unit of Bitcoin.

Ramaswamy also displayed a QR code that, when scanned, would direct users to a payment gateway that accepts various donation methods.

To collect Bitcoin donations, Ramaswamy has decided to use the payment service provided by BitPay. Bitcoin Cash, Ether, ApeCoin, Litecoin, Dogecoin, and Shiba Inu are among the cryptocurrencies that BitPay supports.

When determining whether or not a donor is eligible for a tax deduction for charitable contributions on their federal income tax return, grants of up to $6,600 from eligible United States citizens and permanent residents are disallowed.

The following instruction can be found on the page where donations are made: “After donating, return to claim your NFT.”

Donors will be given a nonfungible token (NFT). A bill that would place a limit of $100 on contributions to political campaigns made using cryptocurrencies was presented to the Kansas House of Representatives in February.

In the case of donations worth less than one hundred dollars, the recipient must “immediately convert” the cryptocurrency into U.S dollar, refrain from spending the cryptocurrency, and not hold the funds.