Crypto Magazine Africa
  • Home
  • News
  • Analysis
  • Bitcoin
  • Blockchain
  • Breaking News
  • Exchange
  • Gainers
  • Losers
  • Opinion
No Result
View All Result
Crypto Magazine Africa
  • Home
  • News
  • Analysis
  • Bitcoin
  • Blockchain
  • Breaking News
  • Exchange
  • Gainers
  • Losers
  • Opinion
No Result
View All Result
My CryptoMag
No Result
View All Result
Home Bitcoin

Donald Trump strikes out at bitcoin with his first public comment on the topic

by Suvajit Banerjee
July 14, 2019
in Bitcoin, Business, News, Opinion

RelatedPosts

Top 50 Richest People in Crypto November 2021

The Kingdom of Zamunda GDP Dethrones That of US GDP By $6.7 Trillion

DafriBank Announces the Appointment of New Chief Executive Officer

Is Bitcoin moving towards $12 000 value?

In one of his latest tweets, Donald Trump has made it clear that he is not an admirer of cryptocurrency in any way. He also commented on Facebook’s Libra cryptocurrency initiative and said that it had little dependability.

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. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….

— Donald J. Trump (@realDonaldTrump) July 12, 2019

“We only have one real currency in the USA, and it is stronger than ever,” he added, referring to the US dollar. The tweets however has no impact on the market and BTC/USD remained steady. This is the first ever public comment on the issue from Trump which turned out to be a significant achievement for bitcoin advocates. Coinbase CEO Brian Armstrong tweeted,” ‘First they ignore you, then they laugh at you, then they fight you, then you win.’ We just made it to step 3 y’all.”

Trump has previously criticized Facebook and other social media outlets for various actions taken by them. This time he dismissed the Libra project through his tweet.

….Similarly, Facebook Libra’s “virtual currency” will have little standing or dependability. 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 (@realDonaldTrump) July 12, 2019

Facebook has not made any comments over these tweets made by Trump. His comments have also left many bitcoin supporters uneasy. In a reply to Trump’s tweet, far-right commentator Mike Cernovich said,” This is a major mistake on your part and shows a lack of vision.”

Bitcoin was launched in 2008 as a digital currency but has remained a subject of debate ever since. Along with the general concern among the public, the bitcoin sceptics include many notable economists who have termed it as a “scam”. The allegations about the use of bitcoin in the fields of money laundering, terrorist funding and tax evasion have also given rise to widespread concerns about its unsupervised utilization. Bitcoin prices have seen wild variations through the years, rising to $20,000 in 2017 and falling back to around $3000 last year.

Facebook’s plans about launching Libra has created waves in the financial community since the announcement was made last month. The cryptocurrency is set for launch in 2020 and with more than two billion Facebook users, it can cause a big upheaval in the financial markets. Facebook has also formed an association of 28 partners to govern Libra. The companies like Mastercard, PayPal and Uber Technologies are a part of this group. Recently, JPMorgan Chase & Co has also expressed interest in launching its own digital currency.

A day before the tweets from Trump, Federal Reserve chairman, Jerome Powell mentioned that Facebook’s Libra project needs to address concerns regarding privacy, money laundering, consumer protection and financial stability. In last May, California Democrat Brad Sherman appealed to members of the Congress to assist him in passing a bill that will outlaw the purchase of cryptocurrency by Americans. On the other hand, acting White House Chief of Staff Mick Mulvaney, earlier called for a more lenient approach and said that over-regulation can have negative consequences.

It has been estimated that 8 percent of Americans have invested in cryptocurrency and these tweets may act against Trump’s interests in the upcoming 2020 re-election. President Trump currently holds a disapproval rating of 67 percent, which is among the highest recorded ones. On the opposite end, the Democratic presidential candidate Andrew Yang, is well known for his pro-cryptocurrency stand.

Tags: #donald trump bitcoin#trump on bitcoin#trump on libra#trump tweets on bitcoin#trump tweets on facebook libra
Previous Post

VALR launches platform to buy and sell Ether in Rands

Next Post

Tom Lee says Trump's Dislike of Bitcoin will drive more money into it

Related Posts

Top 50 Richest People in Crypto November 2021
Altercoin

Top 50 Richest People in Crypto November 2021

The 50 Richest People in Crypto November, 2021 The founder and the chairman of DafriBank Digital LTD, Xolane Ndhlovu is...

by Khanyisile Nkosi, opinion contributor
December 28, 2021
The Kingdom of Zamunda GDP Dethrones That of US GDP By $6.7 Trillion
Blockchain

The Kingdom of Zamunda GDP Dethrones That of US GDP By $6.7 Trillion

Metaverse -  The Zamundan natural resources like gold, land, minerals and animal hides make the kingdom the richest country in...

by Khanyisile Nkosi, opinion contributor
December 28, 2021
DafriBank Announces the Appointment of New Chief Executive Officer
Breaking News

DafriBank Announces the Appointment of New Chief Executive Officer

JOHANNESBURG - The Africa's pioneer digital Banking outlet DafriBank this week unveiled its new CEO. "We are pleased to announce...

by Khanyisile Nkosi, opinion contributor
September 1, 2020
Bitcoin’s new normal bottom is US$10 000: expert
Bitcoin

Is Bitcoin moving towards $12 000 value?

Bitcoin is set to hit $12 000 before the end of the year if it remains above the $8 500...

by Issa Sikiti da Silva
October 29, 2019
Mark Zuckerberg tries to defend Libra in Congress
Crypto

Mark Zuckerberg struggles to defend Libra as US Congress members grill him for hours

The founder and CEO of Facebook Mark Zuckerberg, appeared before the US House of Representatives Financial Services Committee last Wednesday...

by Suvajit Banerjee
October 25, 2019
JPMorgan CEO Dimon comments on Libra
Crypto

JPMorgan CEO says that Libra is an “idea” that will “never happen”

Amidst the rising scepticism about Facebook’s Libra project JPMorgan Chase Chief Executive Jamie Dimon has commented that it is “a...

by Suvajit Banerjee
October 21, 2019
Next Post

Tom Lee says Trump's Dislike of Bitcoin will drive more money into it

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Quick News

Top 50 Richest People in Crypto November 2021

Top 50 Richest People in Crypto November 2021

by Khanyisile Nkosi, opinion contributor
December 28, 2021
0

The 50 Richest People in Crypto November, 2021 The founder and the chairman of DafriBank Digital LTD, Xolane Ndhlovu is...

The Kingdom of Zamunda GDP Dethrones That of US GDP By $6.7 Trillion

The Kingdom of Zamunda GDP Dethrones That of US GDP By $6.7 Trillion

by Khanyisile Nkosi, opinion contributor
December 28, 2021
0

Metaverse -  The Zamundan natural resources like gold, land, minerals and animal hides make the kingdom the richest country in...

SafeBank Token Broke A Record With A 24H Surge Above $1,6 billion Market Cap

SafeBank Token Broke A Record With A 24H Surge Above $1,6 billion Market Cap

by Khanyisile Nkosi, opinion contributor
May 3, 2021
1

JOHANNESBURG - A new auto liquidity generating protocol SafeBank YES by DefriBank Digital Limited has broken industry's record when it...

THE DIGITAL BANK OF AFRICA ANNOUNCES A SUCCESSFUL SALE OF  9.9 MILLION DBA IN PHASE 2

THE DIGITAL BANK OF AFRICA ANNOUNCES A SUCCESSFUL SALE OF  9.9 MILLION DBA IN PHASE 2

by Khanyisile Nkosi, opinion contributor
April 19, 2021
1

  JOHANNESBURG  -  Thousands of Africans flock to DafriXchange to participate in what they describe as African own Bitcoin which...

Most Popular

Top 50 Richest People in Crypto November 2021

Top 50 Richest People in Crypto November 2021

by Khanyisile Nkosi, opinion contributor
December 28, 2021
0

The 50 Richest People in Crypto November, 2021 The founder and the chairman of DafriBank Digital LTD, Xolane Ndhlovu is...

The Kingdom of Zamunda GDP Dethrones That of US GDP By $6.7 Trillion

The Kingdom of Zamunda GDP Dethrones That of US GDP By $6.7 Trillion

by Khanyisile Nkosi, opinion contributor
December 28, 2021
0

Metaverse -  The Zamundan natural resources like gold, land, minerals and animal hides make the kingdom the richest country in...

SafeBank Token Broke A Record With A 24H Surge Above $1,6 billion Market Cap

SafeBank Token Broke A Record With A 24H Surge Above $1,6 billion Market Cap

by Khanyisile Nkosi, opinion contributor
May 3, 2021
1

JOHANNESBURG - A new auto liquidity generating protocol SafeBank YES by DefriBank Digital Limited has broken industry's record when it...

THE DIGITAL BANK OF AFRICA ANNOUNCES A SUCCESSFUL SALE OF  9.9 MILLION DBA IN PHASE 2

THE DIGITAL BANK OF AFRICA ANNOUNCES A SUCCESSFUL SALE OF  9.9 MILLION DBA IN PHASE 2

by Khanyisile Nkosi, opinion contributor
April 19, 2021
1

  JOHANNESBURG  -  Thousands of Africans flock to DafriXchange to participate in what they describe as African own Bitcoin which...

Sign upto our newsletter

About

  • Contact Us
  • Privacy Policy
  • About Us

Sister Brands

  • FX Magazine
  • MLM Magazine
  • Daily Afrika
  • PlusSize Africa
  • DJ Mag Africa

Affluent Series

  • Affluent
  • Affluent Africa
  • Affluent TV
  • Affluent Radio
  • Affluent Sport

Published by UMEH Media All right reserved.

mycryptomag-logo

The leader in crypto and blockchain news, lifestyle, and just about anything crypto. Crypto Magazine is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Crypto Mag is an independent operating subsidiary of UMEH Media Group

  • Home
  • News
  • Analysis
  • Bitcoin
  • Blockchain
  • Breaking News
  • Exchange
  • Gainers
  • Losers
  • Opinion