Trump’s Bitcoin transaction earns thumbs up from crypto community: What was it?

• Trump’s pro-crypto stance gained attention but struggled to impact his declining election odds.
• Trump’s Bitcoin transaction highlighted his evolving involvement in the cryptocurrency space.

Following 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 nominee and former U.S. president was spotted at a well-known New York City restaurant that accepts Bitcoin [BTC], making history as the first former president to conduct a BTC transaction.

Source: Pubkey/X

Trump used the cryptocurrency to purchase hamburgers during the event, which also saw the attendance of Bitcoin advocate and Professional Capital Management CEO Anthony Pompliano.

The moment, which was also shared on Trump’s Truth Social account, marked another notable twist in Trump’s evolving relationship with digital currencies.

Community reacts

This was met with a lot of excitement from the crypto community as noted by Cash Loren who said, 

“Trump is winning everyone over who is not far left.” 

Adding to the fray was another X user who noted, 

Source: I Love America News/X 

Reports suggest that Trump currently holds a crypto portfolio valued at over $1 million, highlighting his increasing involvement in the digital asset space. 

Impact on Bitcoin and MAGA

On the price front, BTC has surged past $60,000 and was trading at $62,025 after a 3.04% increase over the past 24 hours—a milestone achieved after several days of fluctuating prices.

Meanwhile, MAGA, the Trump-inspired memecoin also saw a bullish trend and was trading at $2.15 with a 3.12% rise during the same period.

Trump’s pro-crypto stance analysed

This election cycle saw Trump take the lead in prediction markets, largely due to his increasingly pro-crypto stance.

From attending the major Bitcoin conference in 2024 to launching Bitcoin-themed sneakers and pledging 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 evolving financial landscape.

However, the dynamics shifted unexpectedly on the 10th of September when Trump and Harris clashed in their first presidential debate, resulting in Trump losing ground as Harris took the lead.

As his presidential odds dwindled, Trump sought to regain momentum by announcing on the 12th of September that he would go live on X (formerly Twitter) on the 16th of September. Despite this effort, his attempt failed to deliver the desired impact. 

Polymarket trend is concerning for Trump

Despite becoming the first former U.S. president to use cryptocurrency in a transaction, Trump’s Polymarket odds have been slipping.

Earlier, his support stood at 49% compared to Harris’s 50%, but as of the 19th of September, Trump has dropped to 47% while Harris has surged ahead with 52%.

Source: Polymarket

Hence, with just 48 days left until the U.S. election, the path forward for Trump—and its potential impact on the nation—remains uncertain and worth watching closely.