Donald Trump made history as the first former US President to use Bitcoin (BTC) for a purchase by completing a cryptocurrency transaction to buy hamburgers at a bar in New York City ahead of a campaign rally.
Trump Purchases Hamburgers Using Bitcoin
The 2024 Republican presidential candidate was seen at PubKey, a crypto-themed bar located in Manhattan, where he bought several hamburgers with BTC. A video published by Fox News shows Trump receiving help from PubKey staff to finalize a transaction on the Bitcoin network.
The video reveals that the transaction was enabled through the Strike app, utilizing the Bitcoin layer-2 solution, Lightning Network. The amount of the transaction was $998.70 and it was confirmed at block height 861871. Additionally, it’s worth mentioning that Trump owns over $1 million in cryptocurrencies.
In an attempt to complete the transaction, Trump scanned a QR code on PubKey’s point-of-sale tablet. After the initial attempt failed, a PubKey employee assisted him by rescanning the code, successfully completing the BTC payment.
Labeling the event as ‘history in the making’, Trump engaged with fellow cryptocurrency enthusiasts at the bar. Co-owner of PubKey, Thomas Pachhia, referred to Trump’s purchase as a decisive moment for Bitcoin. Trump addressed the crowd, stating:
Everyone who’s into crypto, or a crypto enthusiast as I call them, whether it’s Bitcoin or other cryptocurrencies, get out and vote because when you do, we cannot lose. We want to rally everyone who supports your cause, and there are many of you; they’ve treated you quite poorly with the SEC, but we will treat you justly.
His comments were directed at the U.S. Securities and Exchange Commission (SEC), criticizing what he views as excessive regulatory measures against the crypto sector. Trump has previously expressed his intention to dismiss SEC Chair Gary Gensler on his inaugural day back in the Oval Office.
A Significant Shift in Trump’s Crypto Perspective
Although the former President had been critical of Bitcoin’s volatility during his presidency, his stance has evolved considerably in the 2024 campaign. He now supports digital assets and accepts cryptocurrency donations.
Meanwhile, Democratic presidential candidate and current Vice President Kamala Harris seems keen on targeting Trump’s crypto-friendly base, reportedly utilizing the Coinbase Commerce platform to garner crypto donations for her campaign.
Recently, Trump revealed the launch of a new decentralized finance (DeFi) initiative named World Liberty Financial, part of his broader commitment to establishing the US as the ‘crypto capital of the world.’ At the time of writing, Bitcoin is priced at $62,918, reflecting a 4.8% increase in the past 24 hours.
Featured Image from Unsplash.com, Chart from TradingView.com
