Vivek Ramaswamy gains Elon Musk’s backing as Crypto-friendly GOP presidential hopeful

Vivek Ramaswamy gains Elon Musk's backing as Crypto-friendly GOP presidential hopeful

Elon Musk, the influential CEO of Tesla and SpaceX, has thrown his support behind Vivek Ramaswamy, the youngest contender in the Republican presidential race.

Musk’s endorsement came after a snippet of Ramaswamy’s appearance on Tucker Carlson’s podcast, “Tucker on Twitter,” circulated online. Musk was quick to express his optimism about Ramaswamy’s potential as a promising candidate.

In the world of digital finance and cryptocurrencies, Ramaswamy is known for his candid views. He has been actively advocating for a more robust crypto environment in the United States, aligning with Musk’s own interest in the crypto space.

At the recent Bitcoin 2023 conference in Miami, Ramaswamy made a significant announcement: his campaign would accept contributions in Bitcoin (BTC). To facilitate this, he unveiled a QR code during the event, guiding attendees to a donation portal offering multiple contribution options. Notably, donors who contributed up to the $6,600 limit received an exclusive non-fungible token, injecting an innovative twist into his campaign strategy.

Ramaswamy’s decision to embrace Bitcoin donations follows in the footsteps of Robert F. Kennedy Jr., who became the first U.S. presidential contender to welcome cryptocurrency contributions.

However, despite his pro-crypto stance earning him popularity among like-minded individuals, Ramaswamy faces political challenges. He is currently entangled in two lawsuits brought by former employees of Strive Asset Management, a company he co-founded. These employees allege coercion into violating securities regulations during their tenure at the firm.

Nevertheless, Ramaswamy’s growing popularity has brought him into close contact with fellow Republican Ron DeSantis, the Bitcoin-friendly Governor of Florida.

The United States is witnessing a surge in presidential candidates embracing cryptocurrency. DeSantis, in his May 24 presidential bid announcement on Twitter, vowed to “protect” Bitcoin, emphasizing that while there are risks involved, those interested in cryptocurrencies are sophisticated and can make informed decisions.

Moreover, Robert F. Kennedy Jr. has also emerged as a vocal supporter of Bitcoin, particularly since the Miami conference. In June, he tweeted that Bitcoin serves as a bulwark against totalitarianism and encourages transparency and democracy in government institutions, aligning with the broader ethos of cryptocurrency enthusiasts.

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