President Trump criticizes cryptocurrenies: “I am not a fan of Bitcoin and other Cryptocurrencies”

President Trump criticizes cryptocurrenies: "I am not a fan of Bitcoin and other Cryptocurrencies"

President Trump criticizes cryptocurrenies: "I am not a fan of Bitcoin and other Cryptocurrencies"

President of the United States President Donald Trump tweeted on his official Twitter on the 12th, saying “I am not a fan of bitcoin and other virtual currencies,” clearly showing that he doesn’t approve of cryptocurrencies.

The contents that President Trump tweeted are divided into three posts, the first post saying the following:

“I am not a fan of Bitcoin or other cryptocurrencies. They are not money, but their value is based on a very volatile and thin air. Unregulated crypto assets do not trade drug or other illegal activities. There is a possibility of promoting illegal activities.

In addition, President Trump, who tweeted that “I am not a fan of Bitcoin and other virtual currencies,” criticized Facebook’s virtual currency “Libra”, which was announced last month as “other virtual currency”. He states:

…. Similarly, Facebook’s virtual currency Libra has almost no rising or credibility. If Facebook or any other company wants to be a bank, they should seek a new bank charter and, like other banks, be subject to all bank regulations.

… and international. We have the only real currency in the US and it is both stronger and more reliable than ever. It is a much more dominant currency everywhere in the world, and it always stays that way. It is called the American dollar! “

Although it is unclear what President Trump thought when he tweeted this time, it could be a serious blow for Facebook’s Libra.

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About Shawn Morrison 204 Articles
One of the founders of BitzArena. Active with crypto currency since the rise of the bitcoin. Loves the innovative character of crypto and blockchain technology, and follows developments in the market closely. Likes to connect technology with business, and likes to make difficult concepts accessible to a wide audience.

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