Republican congressional hopeful Michael Carbonara has sold part of his Bitcoin holdings to help finance his campaign in Florida’s 22nd Congressional District, Decrypt reported Saturday.

According to the report, Carbonara converted 10 Bitcoin into approximately $800,000 worth of USDC this month. The entrepreneur, who founded digital payments company Ibanera, has largely self-funded his campaign through personal loans and asset sales.

Prior to recent redistricting changes, Carbonara had raised funds at a pace comparable to several established political figures, including Debbie Wasserman Schultz.

Carbonara has built a diverse venture portfolio spanning fintech, digital payments, and crypto data centers. The entrepreneur established the digital banking and payment infrastructure firm Ibanera, and later expanded his footprint in digital assets by launching the USD-pegged stablecoin RōM in 2025.

In September 2025, Carbonara entered the political arena as a Republican challenger to Debbie Wasserman Schultz for Florida’s 25th Congressional District.

His campaign mirrors his professional background, promoting a platform of innovation driven economic growth, individual liberties, and entrepreneurship. This pro-crypto stance extends directly to his campaign operations, which actively incorporate Bitcoin into his financial strategy and fundraising efforts.