US Presidential Contenders Break New Ground by Accepting Bitcoin Donations
The new wave of innovation comes into the 2024 presidential campaign.
In an unprecedented move in American politics, Robert F. Kennedy Jr., a 2024 presidential candidate, announced at the Bitcoin 2023 conference that he will be the first presidential candidate in US history to accept campaign contributions in Bitcoin (BTC).
During his speech at the Bitcoin 2023 conference, Robert F. Kennedy Jr. called Bitcoin a “symbol of democracy and freedom.”
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On top of that, the man claimed that during his presidential campaign, he will aim to “showcase the strength, versatility, and resilience of Bitcoin.”
Everyone here acknowledges the intimate connection between Bitcoin, democracy, and freedom. This connection fuels our passion, symbolizing the deeply ingrained need for liberty and democracy and the potential of this innovative currency to safeguard these virtues.
Kennedy Jr., who is running against President Joe Biden, has been active on Twitter, articulating his libertarian perspective on cryptocurrencies.
On May 3rd, he tweeted that “crypto technologies are a driving force for innovation” and criticized current regulations for stifling the industry and shifting “innovation elsewhere.”
Kennedy Jr.’s crypto-focused stance comes when regulatory uncertainties cause unease within the industry. He further noted the importance of a diverse currency ecosystem to the US economy’s resilience:
A biodiverse ecosystem is a resilient one, and our economy will similarly benefit from a variety of currencies as opposed to a single, centrally controlled one. Today, the fragility of our overly centralized system is quite apparent.
Meanwhile, another presidential hopeful, Vivek Ramaswamy, quickly followed in Kennedy Jr.’s footsteps, becoming the second 2024 candidate to accept Bitcoin donations.
During the Bitcoin 2023 conference, Ramaswamy encouraged supporters to “give $1,” pitching the 2024 election as a “referendum on fiat currency.”
Ramaswamy also flashed a QR code on stage, leading to a payment gateway offering multiple options for contributions, including Bitcoin and satoshis. He has chosen to use BitPay’s payment service, which supports a range of cryptocurrencies.
Eligible US citizens and permanent residents can donate up to $6,600 for the campaign. In an intriguing move, donors will receive a non-fungible token (NFT), adding a touch of novelty to the campaign.
As the cryptocurrency space gains more prominence in the political landscape, the upcoming US elections could cause a significant shift in campaign financing and potentially the broader acceptance of cryptocurrencies.
While candidates are gearing up for the 2024 election, current President Joe Biden stated that he will not approve a debt ceiling agreement that allegedly protects crypto traders.