In a surprising move that could reshape the narrative around cryptocurrency in politics, Republican presidential nominee Donald Trump made headlines on September 18 by purchasing hamburgers with Bitcoin at Pubkey, a popular New York City bar that accepts the cryptocurrency. This event marks the first time a former U.S. president has used Bitcoin for a transaction, signaling a significant shift in Trump’s stance on digital assets.
Trump’s Historic Bitcoin Purchase
Trump’s appearance at Pubkey, captured in a video posted on X (formerly Twitter), shows the 45th president buying burgers with Bitcoin. The transaction, though not confirmed by Pubkey’s marketing team, has sparked curiosity about whether it was completed on the Lightning Network—a layer-2 scaling solution that enables faster Bitcoin transactions. Trump’s actions have drawn the attention of crypto enthusiasts, especially with Bitcoin advocate and Professional Capital Management CEO Anthony Pompliano attending the event.
The “Crypto Burger” Moment
During the campaign stop, Trump purchased at least a dozen hamburgers and handed them out to attendees, coining the term “crypto burgers.” The event was also promoted on Trump’s Truth Social account, showcasing his campaign’s growing engagement with the crypto community. This public endorsement of Bitcoin is notable given Trump’s past criticism of the digital currency, having once labeled Bitcoin a “scam” and cryptocurrency as “based on thin air.”
Trump’s Crypto Evolution and 2024 Campaign
Trump’s newfound embrace of Bitcoin coincides with his broader campaign strategy as the 2024 election draws near. Just two days before the NYC bar appearance, Trump announced the launch of a new token through the World Liberty Financial platform, run by members of his family. His evolving stance on crypto, from skepticism to advocacy, seems to be a calculated effort to appeal to the growing number of Bitcoin enthusiasts and miners.
Moreover, Trump’s presence at the Bitcoin 2024 conference in Nashville reinforced his shift toward cryptocurrency advocacy. This shift aligns with his support for Bitcoin miners, a constituency that plays a pivotal role in the U.S. economy, particularly in states like Texas and Wyoming.
Contrasts with Kamala Harris and the Democratic Campaign
While Trump has embraced Bitcoin as part of his 2024 campaign, his Democratic opponent, Vice President Kamala Harris, has not made cryptocurrency a significant part of her platform. Despite Harris’ advisor stating in August that she supports policies promoting industry growth, she has not distanced herself from the Biden administration’s more cautious stance on digital assets.
However, Future Forward, a political action committee supporting Harris, does accept cryptocurrency donations, signaling some openness to blockchain technologies.
As Trump continues to position Bitcoin and blockchain technology as key components of his campaign, the 2024 election could mark a pivotal moment for cryptocurrency adoption in U.S. politics. With Trump reportedly holding at least $1 million in crypto, and former President Bill Clinton having also been gifted Bitcoin at a 2016 event, political figures are increasingly recognizing the role of digital assets in modern finance.
Also Read: Donald Trump’s ‘America First’ NFT Series Surges – 22,000 Sales and $2.17 Million In 24 Hours
As the November election looms, Trump faces an uphill battle in New York, where Democrats have dominated since 1988. An August poll by ActiVote showed Vice President Harris leading Trump by 16 points in the state. Nevertheless, Trump remains confident, asserting that he “had a real chance at winning” New York’s electoral votes.
With only 48 days until the election, Trump’s embrace of Bitcoin could either solidify his appeal among crypto advocates or fuel further debate about the role of digital currency in politics.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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