Austin Petersen candidate for Missouri Republican Senate has started acceptance of Bitcoin contributions from dozen of donors. He said he started Bitcoin donation to not to exceed the Federal Election Commission limit.
Bitcoin is basically not accepted by any country or bank as it is a new kind of money used as an open-sourced or peer to peer global payment system.
Global nature gives challenge to American election law that foreign contribution, limit contribution all requires donor transparency.
The FEC said that Bitcoin contribution can be in any form like gift, subscription, loan or any value as this avoids crypto-currency. And this donation is kept in “Bitcoin wallet”. So this is a way to transfer between the citizens without going through the Federal Reserve System and Bitcoin maintains the stability and avoid crypto-currency.
Petersen considered himself as “liberty Republican”, who is in favor of gay marriage, but force bankers don’t make cakes for gay couples and Mohler as “principle over party” and he said dollar’s value will decrease with time as the supply is artificially with interest rates and Bitcoin have fixed unit and its value will increase with time. In future market Bitcoin will dominate.