Vivek Ramaswamy shouldn’t be placing cryptocurrency on the forefront as a key marketing campaign subject in the Ohio governor’s race, not like throughout his presidential run.
Cointelegraph reported on Oct. 5 that whereas Ramaswamy holds a stake in a digital asset supervisor and receives backing from figures in the cryptocurrency business, associated messaging has noticeably decreased in his latest public remarks.
Throughout the 2024 Republican presidential main, Ramaswamy publicly backed bitcoin and mining and strongly opposed a central financial institution digital forex (CBDC). He repeatedly delivered pro-cryptocurrency messages in speeches and at business occasions. However as of September 2026, that stance seems to have weakened considerably. After Ohio Secretary of State Frank LaRose introduced on Sept. 17 that the state would settle for cryptocurrency for presidency charges and repair funds, Ramaswamy didn’t publicly state a place on the difficulty.
His hyperlinks to cryptocurrency haven’t disappeared. Earlier than saying his run for governor in February 2025, Ramaswamy supported an Ohio strategic cryptocurrency reserve invoice. The invoice would permit the creation of a state-level bitcoin reserve. Try, the asset supervisor he co-founded in 2022, additionally unveiled plans in September 2025 to enter the bitcoin bond ETF market, specializing in bonds issued by corporations that purchase bitcoin.
He additionally stays near the cryptocurrency business in phrases of funding and pursuits. Ramaswamy’s marketing campaign is accepting cryptocurrency donations. Chase Herro, Zach Folkman and Zachary Witkoff, co-founders of Trump household cryptocurrency agency World Liberty Monetary (WLFI), every donated the authorized most of $16,615. Susquehanna Worldwide Group co-founder Jeff Yass gave $20 million to his tremendous PAC, whereas New York Digital Funding Group (NYDIG) founder Ross Stevens donated $6 million and Elon Musk gave $5 million. The Bitcoin Voter Venture additionally contributed $5,000.
Ramaswamy additionally has vital publicity to digital property. Try reported that as of Aug. 28 it held 23,156 BTC. An August U.S. Securities and Alternate Fee (SEC) submitting confirmed Ramaswamy held 5,693,897 shares in the agency, valued at greater than $170 million as of Sept. 26. He additionally reported that as of April he straight held bitcoin and ether price greater than $1,000 by way of a Coinbase pockets.
Even so, regionally delicate points look like taking precedence over cryptocurrency in marketing campaign technique. A ballot carried out by Digital Foreign money Group (DCG) in Could 2024 discovered Ohio voters had been extra damaging about cryptocurrency than these in different states. Some 79 p.c mentioned they’d by no means owned cryptocurrency, and 77 p.c expressed a damaging view of digital currencies. The ballot described Ohio voters as being “extra damaging” about cryptocurrency.
Knowledge centre points have additionally emerged as a serious subject in the governor’s race. The Pew Analysis Heart mentioned as of April Ohio had 166 knowledge centres, the best degree in the USA. A number of cryptocurrency miners, together with Cipher Mining, Bitdeer and BIT Mining, are additionally based mostly in the state. Polling additionally discovered many residents don’t assist constructing knowledge centres in their communities.
Ramaswamy promised in August to make sure residents wouldn’t face greater electrical energy payments if knowledge centres transfer into Ohio communities and mentioned he would decrease property taxes as properly. In contrast, Democratic candidate Amy Acton mentioned, “Prices for fuel, water and electrical energy needs to be borne by knowledge centres and traders, not Ohio taxpayers or communities.” That has made electrical energy and native price burdens a extra direct election subject than cryptocurrency.
The race can be tight. As of Sept. 22, Acton led Ramaswamy by 1 share level in the RealClearPolling common. Greater than $2 million was wagered on Kalshi prediction market contracts, which mirrored a 66 p.c probability of a Democratic victory. Polymarket confirmed an analogous pattern.
On this state of affairs, Ramaswamy has not deserted his pro-cryptocurrency stance, however the precedence of his late-campaign messaging seems to have shifted. Whereas business funding and funding publicity stay, bread-and-butter points comparable to knowledge centres and native price burdens are rising as a much bigger issue for voters than cryptocurrency.
