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.
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...