Former U.S. President Donald Trump Carried Out His First Bitcoin Transaction at PubKey in New York City

The incident quickly drew attention from political and cryptocurrency communities, highlighting Trump's increasing engagement in the digital asset space.

Former U.S. President Donald Trump made history on Friday by carrying out his first Bitcoin transaction. The incident occurred during Trump’s visit to PubKey, a crypto-themed bar in New York City. This marked the first time a sitting or former U.S. president has publicly used Bitcoin for any transaction.

The moment was significant and drew immediate attention from both the political and cryptocurrency communities. It highlighted Trump’s increasing engagement in the digital asset space, especially considering his administration's previous actions, such as delaying the launch of Libra, a stablecoin project by Meta.

However, the transaction was not without its challenges. The Bitcoin transfer reportedly took longer than expected to complete, lasting roughly a minute. In response, Digital Asset Researcher Anderson took to Twitter to point out that if Trump had used XRP instead, the transaction would have been completed “in a couple of seconds.” Many users also agreed with this sentiment.

Anderson’s comment highlighted the efficiency of XRP compared to Bitcoin, especially in terms of transaction speed. This disparity can be crucial in real-world use cases for cryptocurrencies. The comparison also brought to mind a statement by Buterin, which was earlier reported by Times Tabloid in August, where he suggested that XRP was better than Bitcoin.

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This incident also marks a shift in Trump’s stance on cryptocurrencies. While he initially expressed skepticism, his recent actions, including accepting Bitcoin donations via the Lightning Network for his 2024 presidential campaign, indicate a growing embrace of blockchain technology.

Moreover, Bitcoin’s price remained largely unaffected by the event, with the token currently trading at $63,758, showing a 2.78% increase in the past day and 10.09% over the past week.

Anderson’s critique underscores a broader conversation within the crypto community about the speed and scalability of various digital currencies. Bitcoin, despite being the most well-known cryptocurrency, has faced criticism for its relatively slow transaction times compared to newer, faster networks like XRP.

This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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