Altcoin News: Donald Trump Spoke out About Bitcoin and Libra

July 12, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

For the first time in his career, Donald Trump expressed his opinion about Bitcoin and other cryptocurrencies.

On Twitter, Trump posted three tweets where he indicated that he is

“not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”

The US President also drew attention to the risks of unregulated cryptocurrencies, which include, inter alia, the possibility of using them for conducting illegal activities, including drug trafficking.

“ 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 and international.”

Trump also recalled that in the United States there is “only one real currency in the USA, and it is stronger than ever”

“It is called the United States Dollar!” He concluded.

Justin Sun, founder and CEO of TRON project was one of the first reacting to the US president’s tweets — saying that president was misled by fake news and that Bitcoin and Blockchain happens to be “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!” He wrote.

Earlier this week, Jerome Powell, chairman of the US Federal Reserve Board of Governors, expressed the opinion that Facebook should not rush into its cryptocurrency initiative while regulators have different doubts about it.

Author: Marko Vidrih