Publicado: Sáb, Julio 13, 2019
Financiera | Por Marilu Caballero

President Trump is not a fan of Bitcoin or other cryptos

President Trump is not a fan of Bitcoin or other cryptos

President Donald Trump on Thursday night warned Facebook Inc. According to him, crypto is not money, it's based on thin air, and is highly volatile with unregulated coins facilitating illegal activities, such as drug trade.

Despite Trump's negative views on bitcoin and the cryptocurrency space in general, the cryptocurrency community applauded his tweet over the free publicity it gave BTC.

Cryptocurrency has flourished since Bitcoin launched in 2009.

What just happened? After being stuck below $4,000 for most of this year, Bitcoin's value has skyrocketed over the last few weeks, helped in no small part by Facebook's announcement of its Libra virtual currency.

"It is called the United States Dollar!"

There are major concerns by House Democrats, and now President Trump, that officially asked Facebook to hold its Libra layout plans as it should be investigated for its possible risks to the entire global financial system.

Operan por tercera vez al expelotero David Ortiz
Ortiz, de 43 años, recibió un disparo a quemarropa en la espalda en un bar de Santo Domingo . David King en el Massachusetts General Hospital.

Dismissing everything other than America's native currency, he ended his Twitter rant by affirming the dollar's strength in world finance.

A high-level G7 working group is expected to produce a preliminary report on asset-backed cryptocurrencies next week when the group's finance ministers meet in France.

His American counterpart at the Federal Reserve also broached the topic Wednesday and Thursday when testifying before Congress.

"This is a direct response to the Powell testimony and comments on Facebook's Libra and the implications that could have for the entire cryptocurrency space", said Craig Erlam, senior market analyst at FX trading platform OANDA.

The ubiquity of smartphones means digital wallets for Libra could expand the use of banking, credit card services and e-commerce in developing nations.

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