Ahead of the 2024 presidential election, former President Donald Trump made headlines with a notable campaign stop in New York City.
What Happened: Former President Trump made a campaign stop at PubKey, a crypto-themed bar in New York, on Wednesday. Trump paid for smash burgers and Diet Cokes using Bitcoin BTC/USD, reported The Wall Street Journal.
Trump’s visit to PubKey, a popular spot among cryptocurrency enthusiasts, aimed to bolster his support from the crypto community. He declared the transaction as “history in the making” after using his iPhone to make the payment.
Mike Germano, president of Bitcoin Magazine, praised Trump, saying, “He’s now one of us.” PubKey co-founder Andrew Newman called it a significant step in bitcoin history, emphasizing the movement behind the currency.
Trump, who once criticized bitcoin, has since embraced the industry. He has appeared at crypto conferences and received millions in campaign contributions made in cryptocurrencies. He promised a more favorable regulatory climate if re-elected.
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During the event, Trump reiterated his commitment to making the U.S. the “world capital for crypto and bitcoin.” He also pledged to halt work on central bank digital currencies and proposed creating a strategic national bitcoin stockpile and a bitcoin advisory council, according to the report.
PubKey also shared an image with Trump on X, captioning it: “One of the most historic transactions in #bitcoin history was just made.”
Why It Matters: Trump’s evolving stance on cryptocurrency has been a significant shift, especially given his previous criticisms. This transformation began to take shape earlier this year when he launched World Liberty Financial (WLFI), a decentralized finance platform centered around a crypto token. This move marked his formal embrace of blockchain technology.
Moreover, Trump has credited his sons for introducing him to the world of crypto, particularly noting the success of his NFT collection. He expressed his surprise at how quickly the collection sold out, which further fueled his interest in the digital asset space.
In the political arena, Trump’s pro-crypto stance has garnered attention. Ethereum BTC/USD co-founder Charles Hoskinson recently stated that Trump is “certainly the favorite” over Vice President Kamala Harris from a cryptocurrency perspective.
Additionally, Anthony Scaramucci, former White House Communications Director, has called for bipartisan crypto regulation, applauding Trump for his newfound support of the industry. Scaramucci believes this shift could encourage Democrats to adopt a more favorable stance on cryptocurrency regulation.
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This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote
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