Vivek Ramaswamy, a Republican presidential candidate in 2024 who supports Bitcoin and is an entrepreneur, has unexpectedly withdrawn from the race following his poor showing in the Iowa caucuses.
After a summertime surge that saw him rise to third place in national polls, the 38-year-old could not garner enough support in Iowa, where he received a pitiful 7.7% of the vote and three delegates.
Before entering the political sphere, Ramaswamy was largely unknown, so he spent a lot of time and money in Iowa trying to establish himself.
Supporter of Bitcoin Vivek Ramaswamy Resigns
But his efforts proved insufficient, and the businessman had to declare his withdrawal from the competition. Speaking to his followers in Des Moines, he said:
“The people’s desires were expressed clearly and loudly. I’m supporting Donald J. Trump tonight and suspending my campaign, and I’ll do everything I can to ensure that he becomes the next president of the United States.”
In 2024, Donald Trump secured a significant victory in the Iowa caucus, claiming 51% of the vote and 20 delegates. Despite endorsing Ramaswamy, Trump criticized him on social media, stating that “voting for Vivek is a vote for the ‘other side,'” showcasing today’s divisive politics.
On Tuesday, Ramaswamy is scheduled to attend a Trump campaign event in New Hampshire.
Ramaswamy, who made his fortune in the biotech industry, became a strong candidate because of his regular appearances in the media and his steadfast participation in divisive social discussions.
BTC market cap currently at $840 billion. Chart: TradingView.com
Promoting Cryptocurrency: Ramaswamy’s Center of Attention
One notable feature of Ramaswamy’s campaign was his support for Bitcoin and other cryptocurrencies. He distinguished himself from other contenders by releasing “The Three Freedoms of Crypto,” a thorough framework for crypto policy.
Crypto Advocate Ramaswamy Endorses Trump, Stirring Policy Debate
Framework for Crypto: Proposed rules aim to regulate new coins, shield devs, and protect self-hosted wallets.
Ramaswamy’s Stance: Crypto advocate urges major reforms, sees Bitcoin as commodity, criticizes SEC’s unclear Ethereum stance.
Trump Endorsement: Following presidential exit, Ramaswamy backs Trump, adding intrigue to crypto regulation debate.
Election Focus: Contenders’ stances on technology, finance, and regulation take center stage in 2024 race.
