KEY POINTS
- Trump became the first U.S. former president to publicly pay using Bitcoin
- Trump promised that if elected, he will treat Bitcoiners 'very fairly'
- The GOP presidential candidate was a former $BTC skeptic
Donald Trump has become the first ex-President of the United States to publicly make a Bitcoin payment after he purchased burgers at New York City bar PubKey on Wednesday night in front of excited BTC enthusiasts.
BTC-friendly PubKey was packed with Bitcoiners and enthusiasts Wednesday to witness "history" in the making as the Republican presidential candidate paid for cheeseburgers with BTC. This marked the first known Bitcoin payment made by a top politician in public.
Making History in New York
Shortly after completing the payment, Trump said, "it's history." BTC enthusiasts cheered loudly after PubKey co-owner Thomas Pacchia confirmed that the payment, logged on the Bitcoin protocol at block height 861871, went through.
One of the most historic transactions in #bitcoin history was just made.
— PUBKEY (@PubKey_NYC) September 18, 2024
President @realDonaldTrump buying burgers at @PubKey_NYC with @tpacchia.
Block height: 861871
You saw it here first. pic.twitter.com/moHUIKDxej
He also said PubKey was "a great place." He promised Bitcoiners present during his visit that if elected, his administration will "treat you very fairly," unlike how the U.S. Securities and Exchange Commission (SEC) has "been treating you very badly."
JUST IN: 🇺🇸 Donald Trump uses #Bitcoin to pay at a bar in New York. pic.twitter.com/ZAkeW5AH5g
— Watcher.Guru (@WatcherGuru) September 18, 2024
Bitcoiners Rejoice Over 'Historical' Transaction
Many users of the world's top digital asset by market value took to X to express joy over the development, with one user pointing out that Trump's move "showed his recognition of cryptocurrency" and proved "his openness to emerging technologies."
Trump used #Bitcoin to pay for food in the bar, which showed his recognition of cryptocurrency. No matter what your political views are on him, this move at least proves his openness to emerging technologies. Maybe this will inspire more people to explore and understand digital…
— Agnes (@Agnes_525) September 18, 2024
One user said he is expecting the business magnate to "bring in big whales who never heard about it [Bitcoin]," and in turn, it will allow Bitcoiners to "fly harder with our bags than ever before."
Podcaster Cash Loren said Trump's latest move "is winning everyone over who is not a far-left radical."
Skeptics Throw Doubt
Black Swan Capitalist founder Versan Aljarrah cast doubt on whether the transaction actually went through. "It took over 45 seconds for them to awkwardly smile and pretend the transaction was settled. Bitcoin is not fast or cost-effective," he wrote.
JUST IN: 🇺🇸 Donald Trump tried paying with #Bitcoin at a New York bar, and the transaction still hasn't settled yet due to massive liquidity issues.
— Black Swan Capitalist (@VersanAljarrah) September 18, 2024
It took over 45 seconds for them to awkwardly smile and pretend the transaction was settled. Bitcoin is not fast or cost-effective pic.twitter.com/8KDcqdH3uP
One user said Trump's visit to PubKey was a set up, given the microphones around him. "This was nothing more than a photo opportunity. I'm betting he doesn't know s*** about Bitcoin or anything about cryptocurrency in general," the user said.
Trump's Rocky Path to Orange Pilling
The doubts of some crypto users regarding the GOP frontrunner's support for the BTC community and the broader digital assets space may stem from his earlier comments about the sector. Some years back, he said Bitcoin seemed like a "scam."
During his time as president, there was also not much progress in terms of regulatory clarity and bipartisan legislation to establish a regulatory framework for industry guidance.
It remains to be seen whether Trump will be genuinely orange-pilled – a term used by Bitcoiners to describe a user's dedication to the world's first decentralized digital asset. On the other hand, he did speak at the Bitcoin 2024 conference and has, in recent months, been more vocal about his openness to digital assets and blockchain technology.
