Cryptocurrency candidates: Bitcoin enters politics

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David says CoinVox has been approached by about 20 candidates who are seeking bitcoin funding in the coming election cycle.

Jared Polis represents the second congressional district of Colorado and is running for re-election to the House of Representatives this year. The description on his donation page reads, "I am proud to be one of the first members of Congress to promote personal financial freedom by accepting a digital currency for contributions."

Polis said his campaign was "eagerly awaiting" the FEC's decision on bitcoin donations in May. He has raised approximately $2,000 in bitcoins from more than 60 donors.

Christina Gagnier, Democratic candidate for the 35th congressional district in California, said her use of bitcoins has caught the attention of individuals who may not have been interested in her campaign otherwise.

"So far, it's not a huge percentage (of donations)," she said. "But I have engaged donors I haven't engaged before."

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Bitcoin is converted into cash immediately upon donation to avoid volatility in the coin's value. It is created by online users who solve complicated mathematical puzzles and stored in digital "wallets."

Because this is the first election cycle in which virtual currency has been used, experts say there is no official data on how much bitcoin has been brought in during this election cycle so far.

"The $100 cap is an issue, and I wonder if the FEC will revisit that," Jerry Brito, a senior research fellow at the Mercatus Center at George Mason University, said. "I expect to see people maxing out that $100 donation."

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Cryptocurrency candidates: Bitcoin enters politics