Trump: ‘I’m Not A Fan Of Bitcoin And Other Cryptocurrencies’

(Kitco News) – U.S. President Donald Trump said on Thursday that he is not “a fan of bitcoin and other cryptocurrencies,” referring to the digital coins as “not money.” Bitcoin prices did not immediately react to Trump’s comments.

The U.S. president described cryptocurrencies as “volatile” and “unregulated” in a series of tweets published late Thursday.

“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,” he wrote.

Trump also touched on Facebook’s new Libra cryptocurrency, stating that the tech company will need a banking charter if it wants the digital currency to be recognized and dependable.

“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…