In a move that caught many off guard, former U.S. President Donald Trump made his first public Bitcoin transaction on Wednesday at PubKey, a crypto-themed bar in New York. Before heading to his Long Island rally, Trump grabbed some burgers and paid using Bitcoin, becoming the first U.S. president, past or present, to use the digital currency in a public setting. With some assistance from the PubKey staff, the transaction went smoothly, and the bar later took to social media to celebrate the moment, calling it “one of the most historic transactions in Bitcoin history.”
One of the most historic transactions in #bitcoin history was just made.
President @realDonaldTrump buying burgers at @PubKey_NYC with @tpacchia.
Block height: 861871
You saw it here first. pic.twitter.com/moHUIKDxej
— PUBKEY (@PubKey_NYC) September 18, 2024
Trump’s Plans for Bitcoin if Re-Elected
Trump, who’s campaigning for a third run at the presidency, has been making efforts to win over the crypto industry’s support. Over the past few months, he’s promised to make the U.S. the “crypto capital of the planet” and has been speaking at crypto events. His evolving stance on Bitcoin has caught the attention of many in the community. In one of his earlier statements during a show with Adin Ross, Trump said, “It’s a very modern currency; it’s a very modern form. I know a lot of very good people that are really into that world and into that market. They’re smart, they’re good people, and they think it’s going to be very beneficial.” This quote reflects how Trump has shifted from his earlier skepticism to embracing the possibilities that crypto, especially Bitcoin, presents.
At the Bitcoin 2024 Conference last month, Trump laid out some of his potential plans for crypto if re-elected. One of the ideas he floated was holding onto the seized Bitcoin as an investment for the country, rather than selling it. “We’ve got a lot of Bitcoin, and I think it would be a mistake to just get rid of it. I say let’s hold on to it, let’s see where it goes,” Trump suggested. He even teased the possibility of using cryptocurrency to help reduce the national debt, which now stands at $35 trillion. While he didn’t go into specifics on how this plan would work, his willingness to consider such unconventional methods has definitely stirred interest.
Trump’s growing involvement with Bitcoin is raising questions about what his presidency could mean for the future of cryptocurrency regulation and adoption in the U.S.
It’s clear that he sees potential in Bitcoin, not just as a currency but as a strategic asset. Whether or not his plans materialize, his continued engagement with the crypto world is something we’ll be watching closely until the U.S. elections and after. Follow us at HowToBuyBitcoin.org for all the latest on Bitcoin!