President Donald Trump Publicly Declares His Skepticism For Bitcoin (BTC) And Crypto – He Also Addresses Facebook’s Libra
There’s been a lot of speculation going on around the subject whether President Trump is a crypto holder or not and what’s his stance on crypto.
Now, he posted a bunch of tweets on social media, just to make things clear regarding his position about the “controversial” subject.
Trump is not a crypto fan
Long story short, Trump is no Bitcoin and altcoin fan, according to what he posted online.
This is reportedly his very first comment on the subject since he began his presidency.
Trump released a thread on the crypto space and News BTC writes that this was basically a response to the Federal Reserve chair’s comments on Bitcoin, Libra, and more related topics.
Trump said that “he isn’t a fan of Bitcoin and other Cryptocurrencies”.
He explained that he doesn’t believe crypto is money and these entities are too volatile, “based on thin air.”
He also addressed the fact that unregulated crypto can support illegal behavior and he brought up all the arguments of the organizations such as the IRS, FBI and more.
Trump addresses Facebook’s Libra
Trump also made sure to talk about the latest project in the crypto space which triggered massive excitement: Facebook’s Libra.
“Facebook Libra’s “virtual currency” will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National…”
…and International. We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!
— Donald J. Trump (@realDonaldTrump) July 12, 2019
Trump receives backlash after his statements
As expected, people don’t agree, and most of them said that regardless if you like the man or not, he is simply wrong about this.
The community pointed to the fact that the US dollar, cars, cell phones, and more are can also be potential weapons which facilitate crime, but this doesn’t mean that we stop using them.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.