First Crypto Payment by a US President

After his 180-degree turn on the crypto industry, Donald Trump is in the spotlight almost every day. Just recently, Trump has become the star of the play, where he made his first public Bitcoin transaction. With this, he has become the first-ever US President to make a crypto payment. This happened as a part of Donald’s ongoing campaigns, gaining the votes of crypto users and boosting the crypto industry. However, it is still controversial whether he has changed his perspective or it is just an election agenda.

Donald Trump Visited PubKey For Bitcoin Burgers

Ahead of his rally in Long Island, Trump stopped at a New York bar, PubKey, known for its Bitcoin payments. The ex-president made his official first crypto transaction on September 18 by buying hamburgers for his fans at this bar. More importantly, he called these simple hamburgers Bitcoin Burgers, as shared by PubKey.

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

Interestingly, the moments of his presence were not entirely welcoming, as many people boos, calling him a loser and scammer. However, soon all these boos turned into cheers and applauses as the ex-President asked, “Who wants a Burger.” He bought dozens of burgers, spending $998.70, and the Bitcoin payment went through Strike, a cryptocurrency payment application built on the Lightening Network.

After introducing the world to his first crypto venture, World Liberty Financial, Donald Trump made another crypto news, becoming the first US president (former or running) to use Bitcoin for transactions.

Though it was not unexpected for him to endorse such crypto payments, it was still interesting for netizens to see Trump’s constant support for the industry this year. He even made a presence at the Bitcoin Conference 2024, and reports also revealed Trump’s Crypto wealth, including $1 Million in Ethereum, indicating his deep interest in these assets.

Bitcoin (BTC) Price To Boom?

Bitcoin is the biggest and strongest cryptocurrency, covering almost half of the market capitalization. Because of this popularity, Bitcoin is not dependent on Trump’s endorsement, but still quite a boost in its price has been noticed since the incident.

With this new support from Donald Trump and the Fed’s 0.50% interest rate cuts for the first time in four years, the anticipation is high from the Bitcoin performance. As the Bitcoin price currently sits at $62,081, many analysts have claimed it to surge as high as $70K.

One such analyst, Ali, has also hinted at the upcoming bull run if the BTC closes above $61,500. More importantly, he highlights Uptober in his X post, which is the most profitable month per historical records of BTC.

#Bitcoin attempts to break through an important trend line. Closing today above $61,500 could signal the resumption of the bull market! #Uptober 👀 pic.twitter.com/CU2a38Jsdh

— Ali (@ali_charts) September 18, 2024

Bitcoin had earlier lost its track, stuck around the $58K mark on charts. However, this 7% surge over the week has boosted investors’ confidence in this cryptocurrency. It has pushed the overall global market along with the user’s sentiments getting neutral from the earlier fear stand. The global market cap, which has been struggling for weeks, also made a significant jump of 3% in the last 24 hours, currently at $2.15 Trillion with a trading volume of $93.27 Billion.

Final Thoughts

The US election is only 48 days away, and things are about to get more hectic. In this, the third time presidential candidate, Donald Trump, has heightened his tactics to win over the crypto voters. In the same attempt, he earlier launched a crypto venture just two days ago and made a presence at the popular crypto bar PubKey to make his first official Bitcoin transaction by buying Burgers for his fans. More importantly, it was the first-ever crypto payment made by a US president (former or president).

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Pooja Khardia

With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.

As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.