Donald Trump: Bitcoin not money, value based on thin air, facilitates unlawful behavior

Published on by Cryptoslate | Published on

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U.S. president Donald Trump finally expressed his views on Bitcoin and cryptocurrency, and the POTUS is not a fan.

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.

President Trump reiterated many of the concerns that critics and the public have of the nascent technology.

With Bitcoin's use bootstrapped by adoption from Silk road, and with its widespread use in money laundering and tax evasion, it's no surprise that President Trump is against cryptocurrency.

President Trump also attacked Facebook's Libra cryptocurrency.

President Trump has not expressed how he will manifest his bleak outlook on BTC. It is uncertain whether his administration will enact regulatory restrictions or other hurdles to adoption in the United States.

Caitlin Long, an attorney and the co-founder of the Wyoming Blockchain Task Force, was critical of President Trump's position.

With an estimated 8 percent of Americans invested in cryptocurrency, President Trump may, once again, be alienating potential voters.

Donald Trump has the second-highest recorded disapproval ratings, at 67 percent, among presidents since Gallup poll began collecting data in 1937.

Conversely, President Trump's highest approval rating is the lowest among all presidents since Franklin D. Roosevelt, according to Gallup.

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