RATE Group | Volatile president lambasts volatile cryptocurrencies
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Volatile president lambasts volatile cryptocurrencies

13 Jul Volatile president lambasts volatile cryptocurrencies

Posted at 07:28h in Cryptocurrency News by

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Donald Trump doesn’t like cryptocurrencies. The US president took to Twitter to lambast bitcoin and its ilk. “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.”

It’s not the first time that someone has expressed criticisms of digital currencies, but drawing the ire of the US president is probably the most high-profile incidence of it. Trump has history here; he previously banned US organisations from doing business using Venezuela’s petro.

But Trump wasn’t pulling his opinions from the air. He was echoing Fed chairman Jerome Powell, who described Bitcoin as a speculative store of value that had failed to catch on.

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