Trump Makes History with Bitcoin Purchase at NYC Bar (video)
Former President Donald Trump makes history as the first ex-president to conduct a public Bitcoin transaction at a New York City bar. This event marks a significant shift in Trump's stance on cryptocurrencies and is seen as a strategic move in his 2024 presidential campaign to appeal to crypto enthusiasts and tech-savvy voters. Trump makes history with first Bitcoin purchase at NYC bar, signaling crypto pivot in 2024 campaign. Learn about his new crypto venture and market impact.
HASSAN BENYOUB 
In a groundbreaking move that has sent ripples through both the political and cryptocurrency worlds, former U.S. President Donald Trump has become the first ex-president to make a public Bitcoin transaction. The historic event took place at PubKey, a Bitcoin-themed bar near New York University in Greenwich Village, marking a significant shift in Trump's stance on digital currencies.
ترامب يصبح أول رئيس بالتاريخ الأمريكي يشتري باستخدام عملة البيتكوين في أحد الحانات في مانهاتن
وقام ترامب بشراء البيرة على حسابه الشخصي لمن هم بالحانة pic.twitter.com/POHiJH1f0Q — ????????محمد|MFU (@mfu46) September 18, 2024
A Surprising Turnaround
Trump's embrace of Bitcoin represents a dramatic reversal from his previous position. In the past, he had dismissed cryptocurrencies as a "scam" and warned against their widespread adoption. However, his recent actions suggest a new strategy aimed at engaging with the growing community of digital asset enthusiasts.Key points of Trump's crypto pivot:
- Purchased hamburgers for supporters using Bitcoin at PubKey
- Transaction recorded on Bitcoin blockchain at block height 861871
- Event witnessed by prominent Bitcoin advocate Anthony Pompliano
- Follows recent launch of Trump's own crypto venture, World Liberty Financial
The PubKey Experience
As Trump entered PubKey, he was greeted with a mix of reactions. While some protesters outside the venue booed and shouted "loser," inside the bar, a combination of Bitcoin enthusiasts and Trump supporters welcomed him with applause. The former president, assisted by PubKey staff, successfully completed the Bitcoin transaction to pay for burgers for his supporters.PubKey, known for its commitment to cryptocurrency education, features a "Bitcoin shrine" and regularly hosts events to introduce people to the world's largest cryptocurrency. The bar's owner, Thomas Pacchia, expressed excitement about Trump's visit, highlighting it as a significant moment for Bitcoin adoption.
World Liberty Financial: Trump's Crypto Venture
Just days before his PubKey appearance, Trump unveiled World Liberty Financial, a cryptocurrency initiative involving his sons Donald Trump Jr. and Eric Trump. This project aims to challenge traditional banking systems and includes plans to release a governance token named WLFI.Details of World Liberty Financial:
- Based on the Ethereum blockchain
- Initially limited to accredited U.S. investors due to regulatory challenges
- 63% of WLFI tokens to be sold publicly
- 20% allocated to the project team
- 17% reserved for future user rewards
Implications for the 2024 Presidential Race
Trump's foray into the cryptocurrency space is seen as a strategic move to appeal to tech-savvy voters and digital asset advocates. As he campaigns for a potential third presidential term, Trump has made several overtures to the crypto community:
- Addressed the Bitcoin 2024 conference in Nashville
- Pledged to make the U.S. the "crypto capital of the world"
- Promised to reduce federal regulations on digital currencies
- Proposed creating a national strategic reserve of Bitcoin
These actions position Trump as a pro-crypto candidate, potentially influencing voter demographics that value economic disruption and regulatory reform.
Market Reaction and Future Outlook
The cryptocurrency market responded positively to Trump's Bitcoin transaction:
| Metric | Value |
|---|---|
| BTC Price Increase | 2.75% in 24 hours |
| BTC Price at Time of Writing | $61,982 |
| Recent BTC Price Peak | $62,500 |
This price movement suggests that the crypto community views Trump's engagement as a positive signal for broader adoption and regulatory support.
Ethical Concerns and Regulatory Challenges
While Trump's crypto initiatives have garnered attention, they also raise ethical and regulatory questions. Ethics experts worry about potential conflicts of interest if Trump were to win the presidency while involved in cryptocurrency ventures. Additionally, the limited availability of World Liberty Financial to accredited investors highlights the ongoing regulatory challenges in the crypto space.
Conclusion
Donald Trump's Bitcoin transaction at PubKey represents a significant moment in the intersection of politics and cryptocurrency. As the 2024 presidential race heats up, Trump's embrace of digital assets could reshape the political landscape and influence the future of cryptocurrency regulation in the United States. Whether this strategy will translate into electoral success remains to be seen, but it undoubtedly adds a new dimension to Trump's campaign and the broader conversation about the role of cryptocurrencies in American politics and finance.
