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President Trump is not a fan of Bitcoin or other cryptos

POTUS says Bitcoin and other cryptocurrencies 'are not money' and 'based on thin air'

By Anthony Garreffa | Jul 11, 2019 09:43 pm CDT

President Trump has come out and talked about Bitcoin and other cryptocurrencies, with POTUS saying 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". His full tweet:

Interesting to see POTUS slamming Bitcoin yet the price of it didn't go down with many traders on Twitter thinking its bullish, and that directly after Trump's tweet the price of Bitcoin rallied and is still going higher -- at the time of writing. Right now, the price of one BTC is $11,400 or so, up from its lows of sub $4,000 just 6 months ago.

Trump talked about the price of Facebook's upcoming Libra virtual currency, with the President saying Libra "will have little standing or dependability" adding that Facebook should work with a banking charter and get regulated like traditional financial institutions. There are major concerns by House Democrats, and now President Trump, that officially asked Facebook to hold its Libra layout plans as it should be investigated for its possible risks to the entire global financial system.

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Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games to be built around consoles. With FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with high-end, custom-built PCs. His addiction to GPU technology is unwavering, and with next-gen NVIDIA GPUs about to launch alongside 4K 144Hz HDR G-Sync gaming monitors and BFGDs (65-inch 4K 120Hz HDR G-Sync TVs) there has never been a time to be more excited about technology.

NEWS SOURCE:ccn.com

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