“Not a Fan of Bitcoin and other Cryptocurrencies”, Tweets US President Donald Trump

12 Jul 2019

“Not a Fan of Bitcoin and other Cryptocurrencies”, Tweets US President Donald Trump

US President Donald Trump criticized Bitcoin (BTC), other cryptocurrencies, and Facebook’s Libra, for potentially disrupting the monetary system. In a series of tweets, Trump reiterated the message of dangers for shaking the stability of fiat currencies, especially the US dollar.

https://twitter.com/realDonaldTrump/status/1149472282584072192

Regarding Facebook’s Libra project, Trump commented that the social media company was, in effect, trying to become a bank, and should seek a new Banking Charter, complying with banking regulations. Trump also stated that Bitcoin is not a form of money and cannot replace the US dollar.

The critical remarks caused an immediate backlash from Bitcoin supporters, as well as regrets for misunderstanding the need for a digital coin a...

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