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Republican presidential candidate Donald Trump made headlines by purchasing burgers at a New York City bar using Bitcoin, marking a historic first for a candidate publicly using cryptocurrency.
“One of the most significant transactions in #bitcoin history has just occurred,” stated the crypto-centered PubKey Bar in New York in a post on X on September 18. This transaction also established Trump as the first former or sitting president to make a public Bitcoin transaction.
The Bitcoin purchase comes on the heels of Trump’s vocal support for cryptocurrency, as he pledged to become the ”crypto president” if he regains the White House in the upcoming elections.
Donald Trump Aims To Be The ”Crypto President”
The Bitcoin purchase was completed less than two days following the announcement of the Trump family’s decentralized finance (DeFi) platform World Liberty Financial (WLFI).
After a weeks-long build-up from the Trump family about the new decentralized platform, it was officially launched, creating a mix of skepticism and anticipation.
JUST IN:
Donald Trump uses #Bitcoin to pay at a bar in New York. pic.twitter.com/ZAkeW5AH5g
— Watcher.Guru (@WatcherGuru) September 18, 2024
Earlier this year, Trump also participated in the annual Bitcoin 2024 conference, making several optimistic promises to conference attendees. Significantly, he stated he would dismiss Gary Gensler if elected and mentioned a plan to establish a BTC-backed federal reserve utilizing the country’s seized Bitcoin.
Additionally, Trump expressed his ambition to turn the US into the crypto capital of the world, advocating for all remaining BTC to be mined within the United States.
Trump’s pivot to support cryptocurrency, after previously labeling Bitcoin a ”scam” during his presidency, signals a significant change in stance. Some analysts question whether this shift is a genuine interest or merely a strategic move to attract votes.
Trump Profited Over $7 Million From NFT Ventures, Holds Over $5 Million in Crypto
Trump has released multiple NFT (non-fungible token) collections, with previously disclosed financial documents revealing earnings exceeding $7 million from these ventures.
According to data from Arkham Intelligence, Trump possesses over $5.98 million in cryptocurrency. This increase follows recent market upticks that added over $102K to his portfolio’s value within a 24-hour span.
His portfolio includes Ethereum (ETH), USD Coin (USDC), among other minor coins. Notably, he holds 439.518 ETH valued at approximately $1.2 million and 137.149K USDC.
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