President Donald Trump tweets about bitcoin and he doesn't like it

US President Donald Trump has shared his opinion about bitcoin on Twitter. He tweets that cryptocurrency is not money, because the rate is very volatile and based on hot air. Are we missing a cliché? Oh yes, according to Trump, bitcoin promotes criminal behavior.

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1 Also an opinion about libra

2 Crypto army stands up

3 Related posts:

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

Also an opinion about libra

The above tweet was just the beginning. He then also tweeted about the coin from Facebook, libra. Jerome Powell, the president of the Federal Reserve, expressed his concerns about libra during his testimony to Congress.

…. Similarly, 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…
– Donald J. Trump (@realDonaldTrump) July 12, 2019

Trump says that Facebook must have a banking license if they want to be a bank. And of course Facebook must adhere to the same regulations as the rest of the banking sector.

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We wrote earlier that politicians worldwide are concerned about libra because the currency can cause economic instability. The criticism of cryptocurrency is closely linked to his hymn about the US dollar. Because it is “reliable.”

… and International. We only have 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’s called the United States Dollar!
– Donald J. Trump (@realDonaldTrump) July 12, 2019

Crypto army stands up

Donald Trump’s tweets have a lot of impact and a large reach. It is therefore not surprising that all well-known crypto-twitterers quickly had their answer ready for the American president.

One of BTC News’s favorites, Anthony Pompliano, uses math to reinforce his argument.

If your argument is that Bitcoin is based on thin air, while Bitcoin’s argument is that it is based on math, who should we believe?
Asking for a friend ?
– Pump ? (@APompliano) July 12, 2019

Justin Sun, the great man from Tron and BitTorrent token, will soon be sitting at the table with billionaire Warren Buffet to have lunch and talk about cryptocurrency. Apparently there is still a seat available.

Mr. President, you are misled by fake news. #Bitcoin & #Blockchain happens to be the best chance for US! I’d love to invite you to have lunch with crypto leaders along with @WarrenBuffett on July 25. I guarantee you after this lunch, nobody will know crypto more than you!

– Justin Sun (@justinsuntron) July 12, 2019

Caithlin Long responds to the voice sentiment. Trump received a lot of votes from the state of Wyoming, one of the most crypto-friendly states in the United States.

1 / Mr President—#Wyoming, the state that gives you the highest margin of victory in 2016 (even bigger than Reagan), welcomes law-abiding #crypto companies & created a new type or bank charter to allow them to comply w / the law. You are just wrong on this — your staff is misleading you
– Caitlin Long ? (@CaitlinLong_) July 12, 2019

Even his voters disagree with him.

I voted for you Mr. Trump. You got this one wrong. Money is slavey and bitcoin is freedom
– Sugar Dating Book (@sugardatingbook) July 12, 2019

Charlie Bilello looked at the return on investment from the moment Trump became president. Surely it is no surprise that bitcoin has yielded more returns than large American companies.

Returns during the Trump presidency…
US Steel: -58% ?
Peabody Energy (Largest US Coal Producer): -9% ?
US Dollar Index: -4% ?
Bitcoin: + 1.186% ??? pic.twitter.com/4c1OimWB7k
– Charlie Bilello (@charliebilello) July 12, 2019

His tweet does have a few advantages, the first is that Trump gave bitcoin free advertising. And the second advantage is that there were substantive discussions about the role of the dollar.

Good luck with your position.https: //t.co/lYRdSFeyiZ pic.twitter.com/5TMVKiaDiI
– Melik Manukyan ⚡️⚡️⚡️⚡️⚡️ (@melikmanukyan) July 12, 2019

Not only did Trump give his opinion on bitcoin, the FED called bitcoin a store of value.

Today is the most bullish day in the history of Bitcoin.
The Chair of the Federal Reserve called it a store of value and the President of the United States tweeted about it. $ BTC
– Paranoid Bull (@paranoidbull) July 12, 2019

For the time being, his tweet has no consequences for the price of bitcoin.

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