If You Invested $1000 In Bitcoin When Vivek Ramaswamy Began Accepting BTC Donations For His Presidential Campaign, Here's How Much You'd Have Today

Entrepreneur-turned-politician and former Republican presidential candidate Vivek Ramaswamy has been a robust supporter of Bitcoin BTC/USD and argued against treating it as a rival to the U.S. monetary system.

What happened: Ramaswamy used support for Bitcoin and the cryptocurrency industry in general as one of the key rallying points during his bid for the presidency.

The Republican candidate even started accepting Bitcoin payments for campaign donations in May 2023, a practice later embraced by Donald Trump and Kamala Harris, the final presidential candidates.

Ramaswamy made the announcement while speaking at the widely popular Bitcoin 2023 conference in Miami, Florida.

During his address, he called on others to make the 2024 election “a referendum on fiat currency.”

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During the time, one Bitcoin was valued at $26,753.83. So, if you invested $1000, it would have fetched you 0.037 units of the cryptocurrency.

Today, one Bitcoin is worth $95,576.80. If you resisted temptations to sell, your stash would be worth $3572.45 today, marking an impressive return of 257%.

Why It Matters: A lot of water has flown under the bridge since Ramaswamy embraced Bitcoin for donations. 

In January 2024, he suspended his bid and endorsed Trump for the presidency, who went on to win the elections in November.

Ramaswamy was appointed by President-elect Trump to lead the new Department of Government Efficiency along with tech mogul Elon Musk, a role which aligned with his campaign promise of downsizing Federal agencies.

Last week, Strive Asset Management, a company co-founded by him, applied for an exchange-traded fund that would seek exposure to convertible securities issued by companies investing in Bitcoin

Price Action: At the time of writing, Bitcoin was exchanging hands at $95,638.34, up 2.52% in the last 24 hours, according to data from Benzinga Pro.

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Photo courtesy: Wikimedia