Republican presidential contender Donald Trump bought burgers in a New York City bar using Bitcoin, making history as the first candidate to use crypto publicly.

Trump's new DeFi project ties his name to crypto rather than bitcoin, threatening to confuse and alienate his supporters — both bitcoiners and his conservative base.

"It goes quickly and beautifully," the former president said, after buying beers and burgers with the cryptocurrency on Thursday.

Cryptocurrencies rose as part of a broad market rally Thursday, one day after the Federal Reserve delivered a half-percentage-point reduction in interest rates, the first in more than four years.The price of bitcoin was recently higher by 5% at $63,

Bitcoin (BTC) has surged past $62,000 following the US Federal Reserve’s decision to cut interest rates by 50 basis points.

In the end, the Fed decided to go big. The Federal Reserve lowered its key interest rate by a hefty half percentage point Wednesday, moving ahead with its first rate cut in four years and cheering markets that expected an emphatic move amid a softening jobs picture.