In a move that surprised many, former President Donald Trump made a campaign stop at PubKey, a crypto-themed bar in New York City, on Wednesday. The highlight? Trump paid for smash burgers and Diet Cokes using Bitcoin, declaring the transaction “history in the making.” This public display of crypto enthusiasm comes on the heels of his previous criticisms of Bitcoin, showcasing a notable shift in his stance.
Trump’s embrace of the crypto industry has been a gradual process. Earlier this year, he launched World Liberty Financial (WLFI), a decentralized finance platform built around a crypto token, formally signaling his acceptance of blockchain technology. He has also credited his sons for introducing him to the world of crypto, particularly noting the success of his NFT collection. This newfound enthusiasm has led to a more favorable view of cryptocurrency regulation.
During his visit to PubKey, Trump reiterated his commitment to making the U.S. the “world capital for crypto and bitcoin.” He pledged to halt work on central bank digital currencies and proposed creating a national bitcoin stockpile and a bitcoin advisory council.
Trump’s pro-crypto stance has garnered attention in the political arena. Ethereum co-founder Charles Hoskinson has stated that Trump is “certainly the favorite” over Vice President Kamala Harris from a cryptocurrency perspective. Former White House Communications Director, Anthony Scaramucci, has called for bipartisan crypto regulation, applauding Trump’s shift. Scaramucci believes this could encourage Democrats to adopt a more favorable stance on cryptocurrency regulation.
This unexpected campaign stop at a crypto-themed bar underscores Trump’s growing interest in the cryptocurrency industry. His willingness to use Bitcoin for everyday purchases and his proposed policies indicate his commitment to making the U.S. a leader in this burgeoning sector. Whether this will be a major factor in the 2024 election remains to be seen, but it is undoubtedly a significant development in the political landscape.
