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.
I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….
— Donald J. Trump (@realDonaldTrump) July 12, 2019
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.