Trump Becomes the First US President to Complete a Bitcoin Transaction

Ex-POTUS Donald Trump has once again made headlines, this time for becoming the first US president in history to conduct a Bitcoin transaction. Trump, who remains an avid businessman, has long demonstrated interest in the crypto world, hoping for further backing as the November election looms.

Trump Made History at the PubKey Crypto Bar 

The historic moment took place on Wednesday right before a rally on Long Island.

Before the eager eyes of patrons at PubKey, a crypto bar in Manhattan, Donald Trump made the first transaction by a sitting or former US President on the Bitcoin protocol. The historic moment was captured on video by Fox News, showing the moment of the transaction.

After the PubKey staff helped Trump complete the transaction, one of them confirmed that it had gone through, triggering applause and cheers from the crowd. 

JUST IN: President Trump makes his first Bitcoin transaction at a bar in Manhattan 🔥 pic.twitter.com/U0BZmqED8W

— Benny Johnson (@bennyjohnson) September 18, 2024

This move aligned with Trump’s favorable stance on cryptocurrency, which is further evidenced by prior interviews and campaign promises.

Trump Recognizes the Potential of Crypto

As a businessman, Trump likely recognizes that the potential of the crypto sector is not something that can be overlooked. As decentralized finance becomes more and more popular, it continues to be talked about by politicians and regulators alike.

Trump, for one, recently endorsed the crypto platform World Liberty Financial, in which he and his children hold stakes. The former president’s backing came as the platform prepared to launch a new governance token.

In addition to the transaction at PubKey, Trump also recently expressed a desire to turn the United States into the crypto capital of the world. This support could possibly secure him backing from the Bitcoin world ahead of the election.

Trump’s favorable stance on the crypto realm and his recent transaction at PubKey are important to the sector as they provide it with much-needed legitimization.

Trump and Harris Gear Up for the Elections

As the election approaches, the battle between Trump and Kamala Harris continues to get more and more heated. While the former president appealed to the world of crypto, Harris was recently supported by Taylor Swift, which triggered a record-breaking 400-500% increase in voter registrations on the Vote.org platform.

While Trump was able to maintain a steady lead over President Biden in the election betting markets, Harris’ performance at the recent debate convinced many bettors that she might be the one to win office after all.

Both candidates have also been seeking support from the casino and hospitality sector, promising to remove the controversial taxes on tips.