Donald Trump is “Not a Fan” of Bitcoin and Crypto, Citing High Volatility

By Matthew Lam   Jul 12, 2019 2 Min Read

“I am not a fan of Bitcoin and other Cryptocurrencies, which are not money.” Donald Trump tweeted on 11 July.

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Exhibit 1. How Donald Trump views cryptocurrencies

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Source: Donald Trump Twitter

The tweet (See Exhibit 1) came after the night of “Social Media Summit” which did not include any representatives from social media companies such as Facebook, Twitter or Google. The summit was a closed-door conference inviting many right-wing leaders instead. Trump has been complaining about the slowdown for the number of his Twitter followers during the summit, suggesting a conspiracy without further evidence.

Trump also believed Facebook’s Libra to have little standing or dependability. He added that Facebook must seek a new Banking Charter and comply with all domestic and international banking regulations. He then concluded:

“We have only one real currency in the USA. It is by far the most dominant currency anywhere in the world, and it will always stay that way. It is called the United States Dollar!”

In June, Trump’s tweet demanding Twitter to let banned Conservative Voice back to the platform, and said “It’s called Freedom of Speech.” Trump also tweeted in May saying he will continue to monitor the “censorship of AMERICAN CITIZENS on social media platforms” after Facebook banned seven users’ accounts including right-wing media personalities Paul Joseph Watson, Milo Yiannopoulos and Laura Loomer for policies against “dangerous individual and organizations”.

Thumbnail image credit: Shutterstock


About the author

Matthew Lam    📧
Passionate in blockchain and crypto research!




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