US President Donald Trump said that Bitcoin and other Сryptocurrencies are not money.

US President Donald Trump, who prefers to communicate his thoughts daily via Twitter, spoke for the first time about Bitcoin and Libra’s digital currency from Facebook. According to him, their cost is extremely volatile and in general is not supported by anything.

I’m not a fan of bitcoin and other cryptocurrencies. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity….
Donald J. Trump (@realDonaldTrump) July 12, 2019
“I am not happy with Bitcoin and other cryptocurrencies that are not money. Their cost is excessively volatile and taken from the ceiling. Unregulated cryptoactives can contribute to criminal activities, including drug trafficking. “

Trump stressed that the virtual currency Libra should not count on building reputation.

… and International. It is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World. It is called the United States Dollar!
Donald J. Trump (@realDonaldTrump) July 12, 2019
“If Facebook and other companies want to become banks, then they need to get a banking license and comply with the relevant regulations as do national and international banks.”

Also, the US president clearly outlined his priorities.

“There is only one real currency in the USA. It is stronger than ever, it is reliable. It is the dominant world currency and will always remain so. This is a dollar! ”.

Of course, the president’s statement provoked a fierce discussion in the comments, in which both skeptics and supporters of cryptocurrencies took part. TRON founder Justin Sun invited Trump to lunch with legendary investor Warren Buffett, and Peter Schiff rejoiced at the support of the president.

Mr. President, you are misled by fake news. #Bitcoin & #Blockchain happens to be the best chance for US! I’d love to go along with @WarrenBuffett on July 25. I’m guaranteeing that you’ll not be crying!
Justin Sun (@justinsuntron) July 12, 2019
I’m not a fan of bitcoin either, but not because it’s unregulated. That is actually one aspect that I like. But you have no real value. It’s a game of confidence.
Peter Schiff (@PeterSchiff) July 12, 2019

The managing partner of the venture capital firm Morgan Creek, Anthony Pompiano, contrasted Trump with mathematics.

“If you say that Bitcoin is based on empty space, then I’ll tell you that there is math. And who should believe? “.
If your argument is a bitcoin, does it?
Asking for a friend 🙂
Pomp ? (@APompliano) July 12, 2019

Recall that during the two-day hearings in the US Congress, Fed Chairman Jerome Powell spoke about the position of the Central Bank on Libra. He also explained to the public that people use Bitcoin as a speculative means of accumulation like gold, and not as a means of payment.

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