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,” began Donald Trump, never one to mince his words or check his facts before hitting send. “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.” He went on to pillory Facebook’s Libra currency, asserting that a banking charter is required to engage in money transmission. Then came the kicker, draped in the stars and stripes and dispatched on the wings of a bald eagle:
We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!
As several million people were exposed to Bitcoin for the first time, 15,000 who were already familiar with the benefits of cryptocurrency took to Twitter and set President Trump right on a few matters.
