How Donald Trump used cryptocurrencies

During a stop at a cryptocurrency-themed bar in New York, Trump expressed his hope that the Republican Party would win in New York in the upcoming US election.

This is another major step in Donald’s massive election campaign. As it became clear at the beginning of 2024, he expects to attract as many votes as possible from fans of digital assets, in this regard, such actions fit perfectly into his rhetoric.

Former US President Donald Trump at a Pubkey bar

The visit of the former president to the institution gathered a lot of people interested in the process. In front of the crowd, Trump stated the following.

This is a great place, I just made my first Bitcoin transaction. Everyone who is involved in cryptocurrencies are cryptomaniacs, as I call them, because that’s what they really are, they believe in digital assets. Get out and vote because if you vote, we can’t lose. They treated you very badly at the SEC and we’re going to treat you very fairly because you have to get out and vote.

This is clearly the Democratic Party we're talking about here - Trump has lashed out at the actions of the current administration of President Joe Biden. His term in office was remembered for the serious harassment of companies in the industry by the SEC. The head of the Commission, Gary Gensler, whom Biden appointed as chairman, had a great influence on these processes.

Former US President Donald Trump pays for burgers in Bitcoin

Here is a video of Trump conducting the transaction with the participation of members of his team. It’s important to note that the politician is 78 years old, so needing help interacting with the crypto seems perfectly normal.

Overall, this is the first transaction on the Bitcoin network conducted by an American president. It entered the block under the number 861871.

That said, Trump is aware of what is happening with the crypto industry in the US thanks to the help of his team. That’s why during his speech at the Bitcoin 2024 cryptocurrency conference in Nashville in late July, he promised to fire Gary Gensler as SEC chairman on the first day after winning the election.

According to Decrypt’s sources, Trump warned mid-week that if Vice President Kamala Harris wins the election in November, crypto startups will be “living in hell” under the Commission’s heavy regulation. Accordingly, it is clearly not worth counting on normal niche development in such an environment.

Here is his quote on the matter.

If we don’t win the election, the people who were under investigation and are now free as birds, as well as the people who were not monitored in the crypto world, will live in hell. Because it will start the day after the election if they win.

Former US President Donald Trump

When asked about his experience using Bitcoin to buy burgers, Trump noted how easy it was.

It’s the beginning of a new era. What they’ve done is very amazing in a short period of time. You look at the value and the numbers you’re talking about – it’s bigger than the biggest corporations in the world combined, many of them. So that’s something.

Bitcoin is really one of the largest assets in the world by market capitalisation. Today it stands at $1.24 trillion, which puts BTC at number ten in the overall ranking of the most scaled assets. The first place here is occupied by gold with the result of 17.4 trillion, and the largest company in the world is still Apple. Its figure reaches 3.3 trillion.

Ranking of the world’s largest assets by market capitalisation

A little later, the pub visitors noted that they had prepared gifts for Trump. He replied that he “wants Bitcoin”. Here’s that video.

Experts agree that cryptocurrencies have become a full-blown political issue in Washington. As a former sceptic of Bitcoin, Trump has dramatically changed his mind about digital assets in early 2024.

Before that, Donald has launched several NFT collections and the day before announced the launch of a family project from the field of decentralised finance. All this is able to have a decisive impact on the outcome of the election.

And analysts confirm that Donald Trump’s victory in the election will be positive for the whole industry, while Kamala Harris’s victory will most likely mean problems for the niche. The previous day, this version was voiced by Nansen platform head Alex Svanevik – more details can be found in a separate article.

Current US Vice President Kamala Harris has not yet expressed an explicit position on cryptocurrencies or blockchain. The focus of her work is on other priorities like social justice, healthcare and economic policy, which is quite typical for representatives of the political left.

Nevertheless, the Biden administration has generally taken a moderately strict stance on cryptocurrencies, focusing on combating the use of digital assets for money laundering, terrorist financing and sanctions circumvention.

In addition, divisions like the Securities Commission and the U.S. Treasury Department have stepped up regulation of the crypto market, which has caused concern among coin enthusiasts.

U.S. President Joe Biden and U.S. Vice President Kamala Harris

Strict regulation of cryptocurrencies could negatively impact Harris’ perception among cryptocurrency investors and tech fans. If the administration continues to push for strict regulation, it is in a position to alienate a portion of voters who support the free circulation of digital assets.


Trump's team is clearly making successful decisions to PR the politician among digital asset enthusiasts. Still, Donald has previously promised to stop the sale of digital assets confiscated by the US government, as well as to release the creator of the Silk Road darknet platform Ross Ulbricht from prison. Whether all this will bring the desired results will become clear in a month and a half.


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