In a historic move, Donald Trump became the first U.S. President to complete a Bitcoin transaction. This bold move adds to his growing support for the cryptocurrency sector.
Trump’s First Public Bitcoin Transaction
Donald Trump, who has shifted his stance on cryptocurrencies, recently made headlines with his first public Bitcoin payment. This moment occurred at PubKey, a bar in New York known for accepting Bitcoin. During a campaign stop, Trump purchased burgers for his fans, calling them “Bitcoin Burgers,” and made the transaction through the Strike app, which uses the Lightning Network for fast crypto payments.
Mixed Reactions at PubKey
While Trump was initially met with boos from some, the atmosphere quickly shifted. After buying dozens of burgers worth $998.70, the crowd cheered him on. This moment marked Trump’s first crypto transaction and highlighted his focus on winning over the crypto community as part of his campaign efforts.
Trump’s Crypto Ventures
This is not Trump’s first move in the crypto space. Earlier, he launched World Liberty Financial, his first crypto-related venture. He has also publicly shared his cryptocurrency holdings, including $1 million in Ethereum. His appearance at Bitcoin Conference 2024 further solidified his growing involvement in the industry.
Bitcoin’s Price Surge
Following Trump’s endorsement and the Federal Reserve’s recent 0.50% interest rate cut, Bitcoin prices surged. Bitcoin, currently trading at $62,081, saw a 7% increase over the week, boosting market sentiment. Analysts predict further gains, with some forecasting a rise to $70,000.
Conclusion
With the U.S. election only 48 days away, Donald Trump is positioning himself as a crypto supporter to gain favor with voters in the digital asset space. His first public Bitcoin transaction has already made history and could be a key factor in his election strategy.
