News abstracts for those who value their time
World | Politics | Technology


Trump apparently knows what Bitcoin is, and he doesn’t like it

[2019.07.12, Fri 02:02] President Donald Trump took some time out of his evening to tweet about cryptocurrencies today, announcing to the world that he is "Not a fan" of Bitcoin and other cryptocurrencies because their "Value is highly volatile and based on thin air." In a series of tweets, Trump expanded on his thoughts on crypto, saying Facebook's newly announced Libra virtual currency "Will have little standing or dependability," and that the company should seek a banking charter and be regulated like any other traditional financial institution. Naturally, Trump ended his crypto fireside chat with some trademark, nationalistic confidence in the United States Dollar. 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 July 12, 2019 It's not clear why Trump chose today of all days to speak out about crypto. Whatever the source of Trump's sudden ire for crypto, one crowd is not particularly happy: the alt-right, which has enough libertarian and more broadly anti-government strains in its movement to align with crypto enthusiasts. The official Twitter account for extremist forum Gab has been on a tirade since Trump's tweets went out, complaining of a so-called "Kushner Presidency" influencing Trump's decision to smear Bitcoin and comparing Gab's free speech absolutist social network to the popular cryptocurrency, as both are "Smeared by the media" and "Built to preserve and promote freedom." Popular far right commentator Mike Cernovich wrote in a reply to Trump, "This is a major mistake on your part and shows a lack of vision." Cernovich and others are now seemingly on a quest to reeducate Trump on the benefits of Bitcoin. Google the news >>

<< Back


(c) 2019 Geo Glance