Sen. Rand Paul (R-Ky.) pushed back this morning against reports that his campaign is in trouble. 

In an interview with Martha MacCallum, Paul said his campaign has raised about $20 million - with $2 million in the bank - and reports of his campaign being on the ropes are a "false narrative." 

The winner of the 2015 CPAC straw poll said he would not continue with his campaign if he did not think he had a real chance to win the nomination. 

"I fully believe that the leaders in the Republican primary will not be those who are leading currently. There's a lot of historical proof to that," Paul said, citing Herman Cain's lead in the polls four years ago.

Paul, who is polling near the bottom of the GOP field, said there is a lot more to a presidential campaign than winning in a "poll of 200 people."

The senator said he believes that Iowa polls are not taking into account enough college students and independents.

"I defy anyone to find a college kid in Iowa that's done a presidential poll," said Paul.

He said that his "organizational strength" in Iowa includes students from 20 colleges in the state who will turn out to the caucuses to support him.

Paul said he believes college students and independents will be motivated to vote for him based on his rejection of more U.S. intervention in the Middle East. 

Read a memo from the Paul campaign, defending their efforts, here.

Watch Sen. Rand Paul tonight at 10p/1a ET on "Hannity," as he discusses the latest developments in the Hillary Clinton email investigation.