In an surprising flip of occasions, entrepreneur and Bitcoin proponent Republican presidential candidate Vivek Ramaswamy has officially withdrawn from the 2024 presidential race after a lackluster efficiency within the Iowa caucuses.
Despite an preliminary surge that propelled him to 3rd place in nationwide polls over the summer time, the 38-year-old failed to achieve enough help in Iowa, securing solely 7.7% of the vote and a meager three delegates.
Ramaswamy, comparatively unknown earlier than coming into the political area, invested vital time and sources in Iowa, hoping to solidify his standing.
Bitcoin Advocate Vivek Ramaswamy Backs Out
However, his efforts fell quick, prompting the entrepreneur to announce his withdrawal from the race. Addressing his supporters in Des Moines, he acknowledged:
“The people spoke loud and clear about who they want. Tonight I am suspending my campaign and endorsing Donald J. Trump and will do everything I can to make sure he is the next U.S. President.”
In distinction, Donald Trump emerged victorious within the 2024 Iowa caucus, securing a commanding 51% of the vote and gaining 20 delegates. Despite Ramaswamy’s endorsement, he confronted social media assaults from Trump, who claimed that “a vote for Vivek is a vote for the ‘other side,’” underscoring the polarized nature of the present political panorama.
Vivek Ramaswamy proclaims he’s suspending his presidential marketing campaign as a result of “there’s no path for me to be the next president absent things that we don’t want to see happen in this country.”
Well, that a lot is true. pic.twitter.com/xYn4juiSDN
— Aaron Rupar (@atrupar) January 16, 2024
Ramaswamy is slated to attend a Trump marketing campaign occasion in New Hampshire on Tuesday.
Ramaswamy, who amassed a fortune within the biotech sector, emerged as a distinguished contender on account of frequent media appearances and an unwavering involvement in contentious societal debates.
BTC market cap at the moment at $840 billion. Chart: TradingView.com
Championing Cryptocurrency: Ramaswamy’s Focal Point
A particular side of Ramaswamy’s marketing campaign was his advocacy for cryptocurrency and Bitcoin. Setting himself aside from different candidates, he unveiled a complete crypto coverage framework titled “The Three Freedoms of Crypto.”
This framework aimed to defend crypto builders from legal responsibility for consumer actions, set up clear regulatory tips for brand new cryptocurrencies, and forestall federal companies from imposing restrictions on self-hosted wallets.
Throughout current debates, Vivek Ramaswamy championed vital modifications within the strategy to cryptocurrency regulation. He argued that the present US monetary system is flawed and posited Bitcoin and different digital belongings as viable options.
Notably, he criticized Securities and Exchange Commission Chair Gary Gensler for the dearth of readability on the regulatory standing of cryptocurrencies like Ethereum, regardless of acknowledging Bitcoin as a probable commodity.
As Vivek Ramaswamy exits the presidential race, consideration now turns to the remaining candidates and their methods within the unfolding 2024 election season.
The endorsement of Donald Trump by a candidate who championed crypto-friendly insurance policies provides an intriguing layer to the evolving political panorama, the place problems with expertise, finance, and regulation proceed to play a pivotal position.
Featured picture from Scott Olson/Getty Images
