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Cryptocurrency News Articles
Trump Uses Bitcoin (BTC) to Pay For Hamburgers, Dubs the Development 'History in the Making'
Sep 20, 2024 at 10:30 am
The 2024 Republican presidential nominee was spotted at PubKey, a crypto-themed bar in Manhattan, where he purchased several hamburgers using BTC.
Former US President Donald Trump has become the first ex-POTUS to use Bitcoin (BTC) for a commercial purchase, completing a cryptocurrency transaction to pay for hamburgers at a New York City bar ahead of a campaign rally.
Trump was spotted at PubKey, a crypto-themed bar in Manhattan, where he purchased several hamburgers using BTC. In a video released by Fox News, Trump can be seen receiving assistance from PubKey staff to complete a transaction on the Bitcoin network.
The video showed that the transaction was facilitated by the Strike app, powered by the Bitcoin layer-2 solution, Lightning Network. The transaction was reportedly worth $998.70 and was confirmed at block height 861871. Trump is also known to hold over $1 million in cryptocurrencies.
Trump attempted to complete the transaction by scanning a QR code on PubKey’s point-of-sale tablet. However, the initial transaction failed, and a PubKey employee assisted him by scanning the code again and successfully processing the payment with BTC.
Trump called the development “history in the making” and went on to interact with other cryptocurrency enthusiasts at the bar. Thomas Pachhia, co-owner at PubKey, described Trump’s purchase as a “coming of age” moment for Bitcoin.
Trump addressed the crowd, saying:
“Everybody that’s a crypto guy, a crypto maniac as I call them, whether it’s Bitcoin or crypto, get out and vote because if you vote, we cannot lose. We want to get everybody who agrees with you people and what you’re doing, and there’s a lot of people; they’ve been treating you very badly with the SEC, but we’re going to treat you very fairly.”
Trump’s remarks were directed at the U.S. Securities and Exchange Commission (SEC), highlighting what he perceives as overreach by the regulator in its actions against the crypto industry. Trump has vowed to fire current SEC Chair Gary Gensler on his first day back in the White House.
Trump’s stance on crypto has dramatically shifted since his presidency, where he was critical of Bitcoin’s volatility. During the 2024 campaign, his approach has changed, where he now embraces digital assets and even accepts cryptocurrency donations.
On the other hand, Democratic presidential candidate and current Vice President Kamala Harris is reportedly using the Coinbase Commerce platform to accept crypto donations for her campaign, aiming to capitalize on the growing crypto-enthusiast voter base.
Recently, Trump announced the launch of a new decentralized finance (DeFi) venture named World Liberty Financial, as part of his grand promise to make the US the ‘crypto capital of the world.’ At press time, Bitcoin is trading at $62,918, up 4.8% in the last 24 hours.
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