Buy food with crypto has already been known since 2010, but it has a lot of difficulty to develop more all the way long. But everything is going to change, cause Donald Trump won again for the President of the U.S.
Let’s find out how they relate to each other in this article with XAIGate.
Back to the Whitehouse, Mr. Trump Won Again
On November 6th, 2024 the final results of the 2024 U.S. presidential election were announced by Fox News shortly before 2:00 a.m. Eastern Time.
Donald Trump’s recent win in the 2024 U.S. presidential election is a major change for American politics and cryptocurrency supporters worldwide.
Known for supporting the crypto industry, Trump’s administration is expected to create a regulatory environment that encourages the growth and use of digital currencies in everyday transactions.
With anticipated pro-crypto policies, the use of cryptocurrency may become normalized, encouraging more businesses—including food and retail outlets—to accept Bitcoin and other digital assets as legitimate payment options.
The First Real-World Bitcoin Transaction Was A Buy Food With Crypto Case in 2010
There is a story that has been told since 2010 about the first buy food with crypto transaction, now look back on that, we will learn the difference.
This story was about Laszlo Hanyecz – a programmer, who gained attention by spending 10,000 bitcoins on two pizzas in 2010.
The total value of 10,000 bitcoins was $41 at that time. If the owner of that pizza shop had kept 10,000 bitcoins until now, can you imagine how much money he would have from just two pizzas?
But on the side, if you’re the owner would you accept the transaction?
Only the one who dares that deserves it!
Today, Bitcoin has evolved into a significant asset class with much higher value.
Laszlo’s pizza purchase set a precedent that Bitcoin can be used for real-world purchases, and as we move into 2025 under Trump’s administration, buying everyday items, or buying food with crypto may become the normal method.
How Does Trump’s Administration Support IT and Crypto?
In his previous campaigns, Trump always showed his point of view about safe and friendly cryptocurrency and technology initiatives, either his policies.
This inside out with his opponent, Mrs. Kamala Harris, she showed her point to tighten up both fields and focus on the traditional economy. This could potentially reduce Bitcoin’s value to $40,000.
Experts believe that regulatory uncertainty and the attitudes of political leaders will remain significant factors influencing Bitcoin prices in the near future.
In contrast, it is anticipated that Trump’s administration will introduce regulations that promote blockchain innovation, streamline cryptocurrency transactions, and lessen restrictions on digital assets.
Trump is creating a crypto-friendly economy that encourages the use of Bitcoin, Ethereum, and other popular cryptocurrencies with confidence and ease.
By the time his winning was announced, Bitcoin had risen to above 74.100 USD.
This support could also facilitate greater investment in blockchain technology across various industries, benefiting sectors such as finance, logistics, retail, and food services.
That’s why we should get used to buying food with crypto from now, as soon as possible to catch up with the change.
Elon Musk Supports Trump and Accepts Bitcoin for His Companies
Exciting news for the crypto community comes from Elon Musk, a strong supporter of digital currencies! Recently, Musk demonstrated his support for former President Trump by donating $75 million during the final three months of Trump’s campaign. This shows he’s on board with a vision for a more crypto-friendly economy.
Musk, the owner of X, is also paying close attention to Ripple’s XRP and its ongoing legal battle with the U.S Securities and Exchange Commission (SEC).
Mr. Trump has promised to remove SEC Chairman Gary Gensler on his first day back in office and plans to appoint someone with a friendlier attitude toward cryptocurrencies, and this will change how the SEC regulates digital assets, including XRP.
Musk’s company, Tesla, has already accepted Bitcoin for vehicle purchases and even keeps Bitcoin on its balance sheet.
So we have the richest man in the world, invested in Mr. Trump’s campaigns, and believing so much in cryptocurrencies, can you declare his vision?
The next 4 years of crypto will be the most glory time we can go through and shall change a lot in our life.
How Do We Buy Food with Crypto Now and in the Future?
Nowadays, buy food with crypto is still unconvinced because there are a lot of suppliers who don’t want to use crypto for their products or meals. We must use gift cards from third parties to exchange.
Of course, we still can find a restaurant or shop that accepts crypto for payment, but not a regular option.
The point is people don’t have much faith in cryptocurrencies yet, they know it has value, but they also know the value goes up and down, and sometimes disappears and they don’t want to risk their money.
Excitingly, with the upcoming regulatory framework proposed by Trump, paying for everyday purchases with cryptocurrency, including food, could become much easier and more common!
We don’t know for now how are our policies going to change, but at the moment we know Trum’s administration is supporting crypto and IT, it will be enough for us to be ready and get used to buy food with crypto.
Both persons have the most effect on the world at the moment (Trump & Elen Musk) already share their faith in the future of cryptocurrencies, so why don’t we?
The new regulatory landscape under Trump could create an environment where buying food with crypto is not only possible but also easy and widely accepted. As we look ahead to 2025, imagine the convenience of paying for your next meal with Bitcoin, simply by tapping your phone!
