Donald Trump is not a fan of bitcoin: It’s pretend money built on nothing

Donald Trump is not a fan of bitcoin: It's pretend money based on thin air

Image source: Shutterstock / Trijo News

Teodor Stig-Matz

teodor.matz@trijo.co

US President Donald Trump is the latest policymaker to come out as critical to bitcoin and other cryptocurrencies.

Cryptocurrencies have received a lot of criticism from politicians and other people in power lately.

First, Facebook’s cryptocurrency libra received negative comments from the US Congress. Then, bitcoin was criticized by the European Central Bank.

Now, US President Donald Trump is joining the crypto critics. In a number of tweets, he attacks both bitcoin and libra, Coindesk reports.

“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”, he writes on Twitter.

Praises the dollar

Donald Trump also criticizes libra in a tweet where he writes that Facebook’s cryptocurrency will not be reliable.

The president concludes his twitter rant with a tribute to the US dollar.

“We have only 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 is called the United States Dollar”.

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