As a seasoned crypto investor with over a decade of experience under my belt, I must admit that the recent moves by Donald Trump have caught my attention. His visit to PubKey for Bitcoin Burgers and his first-ever public Bitcoin transaction are undeniably historic moments in the world of cryptocurrency.
Following a complete reversal on cryptocurrencies, Donald Trump has been drawing constant attention. Not too long ago, Trump executed his first public Bitcoin transaction, making him the inaugural U.S. President to engage in crypto payments. This action took place during his ongoing campaigns, aiming to win over crypto users and stimulate the crypto industry. Yet, there is uncertainty as to whether this shift in stance represents a genuine change of heart or merely an election tactic.
Donald Trump Visited PubKey For Bitcoin Burgers
Prior to his rally in Long Island, Trump visited a New York establishment named PubKey, renowned for accepting Bitcoin payments. On September 18, the former president made history with his initial crypto transaction – he purchased burgers for his supporters at this very bar using cryptocurrency. Intriguingly, PubKey referred to these ordinary burgers as “Bitcoin Burgers.
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.
— PUBKEY (@PubKey_NYC) September 18, 2024
It’s worth noting that his presence wasn’t warmly received initially, with people booing and labeling him as a failure and fraudster. However, this quickly changed when he jokingly asked, “Who wants a Burger?” He splurged on numerous burgers, totaling $998.70, and the Bitcoin transaction was processed smoothly via Strike, a popular cryptocurrency payment app that operates on the Lightning Network.
Following his debut with World Liberty Financial, Donald Trump’s cryptocurrency endeavors made headlines once more as he became the initial American president (whether former or current) to engage in Bitcoin transactions.
It wasn’t surprising that he endorsed such cryptocurrency payments, but it was still intriguing for online users to witness Trump’s consistent backing of the industry this year. Notably, he attended the Bitcoin Conference 2024, and rumors also surfaced about his crypto fortune, with a reported $1 Million in Ethereum, suggesting his substantial involvement in these digital assets.
Bitcoin (BTC) Price To Boom?
Bitcoin, being the most dominant and robust digital currency, holds nearly half of the total market value. Due to its widespread popularity, Bitcoin doesn’t necessarily rely on Donald Trump’s endorsement, however, an observable increase in its value has been noted following the recent event.
The excitement is running high among Bitcoin enthusiasts due to Donald Trump’s recent support and the Federal Reserve’s first interest rate cut in four years, which could potentially boost Bitcoin’s performance. Currently valued at approximately $62,081, several analysts predict that it may rise as high as $70,000.
Analyst Ali suggests that a new bull market could be on the horizon if Bitcoin (BTC) manages to close above $61,500. Additionally, he emphasizes October as a potentially highly profitable month for Bitcoin, based on past performance data, which he refers to as “Uptober.
#Bitcoin is trying to surpass a crucial horizontal line. If it ends the day above $61,500, this might indicate the continuation of the bullish trend! Let’s call it a potential “Bull-October”!
— Ali (@ali_charts) September 18, 2024
Previously, Bitcoin had been fluctuating near the $58K level. However, a 7% increase over the past week has revitalized investor trust in this digital currency. This surge has also helped shift market sentiment from fear to neutrality, and the overall global cryptocurrency market has followed suit. Interestingly, the total market capitalization, which had been struggling for some time, experienced a 3% increase within the last 24 hours. Currently, it stands at approximately $2.15 Trillion with a trading volume of $93.27 Billion.
Final Thoughts
With less than a month until the U.S. election, things are starting to pick up pace. In this context, Donald Trump, who is running for president for the third time, has ramped up his strategies to court voters interested in cryptocurrency. Earlier this week, he launched a crypto-related venture and visited the well-known crypto bar PubKey to execute his first official Bitcoin transaction by purchasing burgers for his supporters. This marks a significant milestone as it was the first known use of cryptocurrency by any U.S. president, former or current.
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2024-09-19 11:48