September 19, 2024
Trump Makes Crypto History at NYC Bar
Former President Donald Trump made waves on Wednesday by using Bitcoin to buy burgers at PubKey, a crypto-themed bar in Manhattan. This marks him as the first U.S. president, past or present, to publicly engage with the Bitcoin network. The transaction took place just before his rally in Long Island and follows his recent endorsement of World Liberty Financial, a new crypto project.
The news has drawn significant attention from the crypto community. This event is not only a historic milestone in the recognition of cryptocurrencies but also has the potential to influence market sentiment, impacting various coins, including AVAX (Avalanche) and LINK (Chainlink).
Impact on AVAX
Avalanche (AVAX) has stood out in the blockchain space due to its fast transaction processing and low costs. The renewed interest in Bitcoin could generate a stronger wave of investment into competing blockchains like Avalanche. As users seek scalable and high-performance platforms, AVAX may benefit from this attention. The increase in trust in cryptocurrencies could lead to a rise in the price and trading volume of AVAX, promoting the development of decentralized applications on this platform.
Impact on LINK
Chainlink (LINK) is an oracle solution that connects smart contracts with off-chain data. Trump's Bitcoin transaction may heighten awareness of the practical applications of blockchain technology, thereby driving demand for oracle services like Chainlink. As developers and businesses increasingly recognize the importance of data in smart contracts, LINK could see a surge in adoption and value. Support from public figures could also enhance LINK's credibility and acceptance within the investment community.
