Journalist
Posted:
- Trump’s pro-crypto stance gained attention, but struggled to influence his declining election chances.
- Trump’s Bitcoin transaction highlighted his evolving involvement in the cryptocurrency space.
After a recent assassination attempt and a glitchy livestream that left questions about World Liberty Financial unanswered, Donald Trump has once again made headlines.
Trump’s first Bitcoin transaction
The Republican presidential candidate and former US president was spotted at a well-known restaurant in New York City that accepts Bitcoin [BTC], making history as the first former president to conduct a BTC transaction.
Source: Pubkey/X
Trump used the cryptocurrency to buy burgers at the event, which was also attended by Bitcoin attorney and Professional Capital Management CEO Anthony Pompliano.
The moment, which was also shared Trump’s Truth Social accountmarked another notable twist in Trump’s evolving relationship with digital currencies.
Community responds
This was met with a lot of excitement within the crypto community, as noted by Cash Loren who said,
“Trump wins everyone who is not far left.”
Adding to the strife, another X user commented:
Source: I Love America News/X
Reports indicate that Trump currently owns a crypto portfolio worth more than $1 million, underscoring his increasing involvement in the digital asset space.
Impact on Bitcoin and MAGA
In terms of price, BTC has done that rose above $60,000 and traded at $62,025, after rising 3.04% in the past 24 hours – a milestone reached after several days of fluctuating prices.
In the meantime, MAGAthe Trump-inspired memecoin also saw a bullish trend, trading at $2.15 with an increase of 3.12% over the same period.
Trump’s pro-crypto stance analyzed
This election cycle, Trump took the lead in the prediction markets, thanks in large part to his increasingly pro-crypto stance.
From attending the big Bitcoin conference in 2024 to launching Bitcoin-themed sneakers and promising to make the United States the “crypto capital of the world,” Trump’s strategic embrace of digital currencies has resonated with crypto enthusiasts and positioned him as a key figure in the world. evolving financial landscape.
However, the dynamic changed unexpectedly on September 10, when Trump and Harris clashed in their first presidential debate, causing Trump to lose ground as Harris took the lead.
As his presidential chances dwindled, Trump attempted to regain momentum by announcing on September 12 that he go live on X (formerly Twitter) on September 16. Despite these efforts, his attempt failed to produce the desired effect.
The polymarket trend is worrying for Trump
Despite being the first former US president to use cryptocurrency in a transaction, Trump’s Polymarket chances are on the decline.
Previously, his support was at 49%, compared to Harris’s 50%, but as of September 19, Trump has fallen to 47%, while Harris is up 52%.
Source: Polymarkt
With just 48 days to go until the US election, the path forward for Trump – and its potential impact on the nation – remains uncertain and worth keeping a close eye on.