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Bernie Sanders' 2020 presidential campaign said Thursday that it raised $25 million in January.
Why it matters: It's a huge sum of money given that there is still a crowded field of Democratic candidates. In 2019's fourth quarter, Sanders pulled in $34.5 million — the most of any Democratic presidential hopeful — and he kicked off 2020 with a staggering $18.2 million in cash-on-hand.
- With Sanders vying for a win in the Iowa caucuses and given his solid polling ahead of New Hampshire's primary next week, his campaign will need the cash as it ramps up to a national race.
- It plans to use the fundraising to increase staffing in Super Tuesday states and put $5.5 million toward television and digital ads across 10 states, including Texas and California.
The big picture: Despite leading the way in fundraising among Democrats, Sanders has to compete in the money game beyond Super Tuesday with billionaire Mike Bloomberg, who is self-funding his run — and spent $188 million in 2019's fourth quarter, despite only entering the race at the end of November.