1. BITBILIHome
  2. Article

Another US presidential candidate to accept donations in BTC

• 53 views

TL;DR Breakdown

  • US presidential candidate Vivek Ramaswamy has said that he will accept donations in Bitcoin.
  • Ramaswamy will leverage crypto platform Bitpay to collect the funds.

In a groundbreaking move, Vivek Ramaswamy has become the second US presidential candidate to officially accept Bitcoin donations for the upcoming 2024 elections. Just two days after Robert F. Kennedy Jr. made history as the first candidate to accept campaign contributions in Bitcoin, Ramaswamy announced his decision to embrace cryptocurrency as a form of campaign funding. By doing so, Ramaswamy aims to make the 2024 election a referendum on fiat currency.

Another US presidential candidate favors BTC

During his announcement, Ramaswamy unveiled a QR code, which, when scanned, redirects users to a payment gateway supporting various payment options for donations, including Bitcoin (BTC) and its smallest denomination, Satoshi (sats). To facilitate Bitcoin donations, the US presidential candidate has chosen BitPay’s payment service, which also supports other cryptocurrencies such as Bitcoin Cash, Ethereum, ApeCoin, Litecoin, Dogecoin, and Shiba Inu.

In accordance with campaign finance regulations, eligible U.S. citizens and permanent residents are permitted to donate up to $6,600 to Ramaswamy’s campaign. However, it is important to note that these donations are not tax-deductible as charitable contributions for federal income tax purposes. As an added incentive, donors will receive a non-fungible token (NFT) upon completion of their donation. The donation page states that donors should return to claim their NFT after contributing.

Interestingly, in February, lawmakers in the Kansas House of Representatives proposed a bill suggesting a $100 cap on crypto political donations. The bill recommended that for donations below $100, the receiver must immediately convert the cryptocurrency into U.S. dollars and refrain from using it for expenditures or holding the funds as an investment (HODL).

Ramaswamy will collect funds through Bitpay

Ramaswamy’s decision to accept Bitcoin donations reflects the growing acceptance and integration of cryptocurrency into mainstream politics and finance. By leveraging BitPay’s payment service, Ramaswamy aims to provide a seamless experience for supporters who wish to contribute to his campaign using various cryptocurrencies.

With both US presidential candidates leading the charge, the acceptance of Bitcoin donations in the 2024 presidential campaign highlights the evolving landscape of political funding. As the race for the presidency intensifies, it remains to be seen how other candidates will respond to this new wave of digital campaign financing.

The move also signifies that the acceptance of Bitcoin donations for the 2024 presidential campaign signifies a significant milestone in the integration of cryptocurrency into mainstream politics. By embracing BitPay’s payment service and offering donors non-fungible tokens as incentives, Ramaswamy aims to make the upcoming election a platform for discussing the role of fiat currency.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Another US presidential candidate to accept donations in BTC

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年5月23日 06:17
Next 2023年5月23日 08:01

Related articles

  • EU and Google on the verge of groundbreaking AI regulations

    TL;DR Breakdown Google is engaging in constructive discussions with the European Union on the emerging artificial intelligence regulations and strategies to build AI safely and responsibly. Google is developing tools to distinguish between human and AI-generated content, including a watermarking solution. EU regulators have concerns about the potential of AI models to infringe on copyright laws, leading to the approval of the EU AI Act. Description The tech titan, Google, is engaging in fruitful talks with the European Union authorities, focusing on trailblazing artificial intelligence laws and the safe and responsible deployment of AI technology. Google is keen on developing tools to quell the EU’s concerns about AI, one of which includes the difficulty in discerning human-generated content from that crafted … Read more The tech titan, Google, is engaging in fruitful talks with the European Union authorities, focusing on trailblazing artificial intelligence laws and the safe and responsible deployment of AI technology. Google is keen on developing tools to quell the EU’s concerns about AI, one of which includes the difficulty in discerning human-generated content from that crafted by…

    Article 2023年7月1日

  • PancakeSwap price analysis: CAKE remains blocked below $1.5 resistance

    TL;DR Breakdown . CAKE price descended 3.5 percent over the past 24 hours . Bearish control seen as price trends horizontally . Support moved down to $1 mark PancakeSwap price analysis continues to show a bearish trend in place, as price struggles to beat the previous support zone at $1.5, which is now the resistance. CAKE has been trading horizontally for most of this week, with price dropping another 3.5 percent over the past 24 hours to move as low as $1.342. As bearish control looms large, CAKE trading volume has recently been on the up consisting majorly of seller action. PancakeSwap is the 94th ranked cryptocurrency in the crypto market with a market capitalisation of $1,014,955,687. The larger cryptocurrency market continued to retain a bearish outlook, with Bitcoin declining further towards the $25,000 mark with a 3 percent decline, and Ethereum dropping 5 percent to $1,600. Among leading Altcoins, Ripple suffered a massive 8 percent loss to move down to $0.47, while Dogecoin lost 2 percent in moving as low as $0.06. Cardano receded by 4 percent to $0.26,…

    Article 2023年6月17日

  • JPMorgan analysts predict SEC will approve multiple spot bitcoin ETFs following Grayscale’s legal victory

    TL;DR Breakdown JPMorgan analysts predict that the U.S. Securities and Exchange Commission (SEC) is likely to approve multiple spot Bitcoin ETFs following Grayscale’s recent legal win, which challenged the SEC’s rejection of its ETF application. The SEC’s decision to delay rulings on spot Bitcoin ETF proposals from various companies until mid-October is seen as an indicator that multiple approvals are on the horizon, potentially lowering ETF fees through increased competition. While the approval of spot Bitcoin ETFs could be a game-changer, analysts caution that similar products in Canada and Europe have not seen significant investor interest, leaving the broader impact on the cryptocurrency market uncertain. Description In a pivotal development, analysts from JPMorgan, led by Nikolaos Panigirtzoglou, forecasted that the U.S. Securities and Exchange Commission (SEC) is poised to approve several spot Bitcoin Exchange-Traded Funds (ETFs). This prediction emerged following Grayscale’s landmark legal win against the SEC, a decision that could reshape the cryptocurrency landscape. Earlier in the week, a federal … Read more In a pivotal development, analysts from JPMorgan, led by Nikolaos Panigirtzoglou, forecasted that the U.S. Securities…

    Article 2023年9月4日

  • 5 Best Transcription Apps To Convert Audio To Text

    TL;DR Breakdown Transcription apps powered by AI and machine learning offer efficient and cost-effective solutions for converting audio to text. Human-powered transcription services like GoTranscript enhance accuracy but may come at a higher cost and longer turnaround times. Versatile apps like Otter not only transcribe but also offer additional productivity features, making them a comprehensive solution for users. Description If you’ve ever had the arduous task of manually transcribing an audio file, you understand the time-consuming nature of this endeavor. Fortunately, the advent of machine learning and the increasing popularity of AI has led to the development of user-friendly transcription apps that are often accessible, and in some cases, even free of charge. Transcription … Read more If you’ve ever had the arduous task of manually transcribing an audio file, you understand the time-consuming nature of this endeavor. Fortunately, the advent of machine learning and the increasing popularity of AI has led to the development of user-friendly transcription apps that are often accessible, and in some cases, even free of charge. Transcription services find applications in a myriad of scenarios,…

    Article 2023年9月17日

  • MicroStrategy posts impairment charge of $24 million in Bitcoin holdings; returns to profitability amid Bitcoin surge

    TL;DR Breakdown MicroStrategy returned to profitability in Q2 2023, reporting a net income of $22.2 million, contrasting with a net loss of $1.1 billion last year, largely due to reduced Bitcoin impairment charges. The company increased its Bitcoin holdings to 152,800 bitcoins worth approximately $4.5 billion and plans to sell up to $750 million in stocks for further Bitcoin acquisition. MicroStrategy’s share price has risen nearly 200% to $434.98, reflecting Bitcoin’s upward trend, though Q2 revenue fell slightly short of analyst estimates. Description In its second quarter, MicroStrategy (MSTR) recorded an impairment charge of $24.1 million on its Bitcoin (BTC) holdings, according to the latest earnings report. However, this is a notable decrease from the $917.8 million recorded in the same quarter of the previous year, and a slight increase from $18.9 million in Q1. The impairment reflects … Read more In its second quarter, MicroStrategy (MSTR) recorded an impairment charge of $24.1 million on its Bitcoin (BTC) holdings, according to the latest earnings report. However, this is a notable decrease from the $917.8 million recorded in the same quarter…

    Article 2023年8月2日
TOP