Donald Trump Tweets Bitcoin; Asks Facebook to Become A Bank

If there is one thing that Bitcoin needs right now to continue penetrating into mainstream adoption, it is more positive exposure to the masses.

And it obviously couldn’t have come any better than from the Twitter Handle of the current President of America, Donald Trump.

Oh, and Bitcoin has Facebook’s new crypto project, Libra to thank for it, with the primary motive of Trump’s tweet being to speak negatively about the perceived Mark Zuckerberg led-effort to overtake the global banking system.

The RealDonaldTrumpJ tweeted to his over 61.8 million followers, 

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….

— Donald J. Trump (@realDonaldTrump) July 12, 2019

And added this,

…and International. 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!

— Donald J. Trump (@realDonaldTrump) July 12, 2019

And you didn’t expect Crypto Twitter to stay silent to all of that and not try to let Donald Trump understand that Bitcoin’s value is derived from math and not thin air.

Crypto Twitter Reacts to Donald Trump’s Tweet About Bitcoin

While almost everyone on CT had comments to make regarding Donald Trump’s tweet about Bitcoin, we picked out some of the notable ones by a few crypto industry leaders.

Anthony Pompliano

The Morgan Creek Digital Founder,  who recently predicted a $100,000 price for Bitcoin by 2021, had always named math as the cryptocurrency’s core strength and you didn’t think he was going to forget that or did you?

If your argument is that Bitcoin is based on thin air, while Bitcoin’s argument is that it is based on math, who should we believe?

Asking for a friend 🙂

— Pomp ? (@APompliano) July 12, 2019

Brian Armstrong

The Coinbase CEO labeled Trump’s tweet about Bitcoin as an achievement unlocked moment for the industry.

Achievement unlocked! I dreamt about a sitting U.S. president needing to respond to growing cryptocurrency usage years ago. “First they ignore you, then they laugh at you, then they fight you, then you win”. We just made it to step 3 y’all. https://t.co/N3tzUKELaK

— Brian Armstrong (@brian_armstrong) July 12, 2019

Tiffany Hayden

She indirectly pointed out that only a fool would try to use an immutable ledger to hide their crimes and even questioned the fact that the first IP related to the hack of now-defunct crypto exchange, MT GOX, belonged to the U.S Department of Homeland Security.

What kind of idiot would use a public ledger that records and stores every single transaction ever made, FOR ETERNITY, to commit a crime?
Nice try, Donny!#Bitcoin #IvankaUnwanted https://t.co/FeeiVAmp85

— Tiffany Hayden (@haydentiff) July 12, 2019

Justin Sun

The TRON founder was even generous enough to invite Donald Trump to his $4.5 million lunch with billionaire investor Warren Buffett, asserting that the U.S President has been misled by fake news.

 

Mr. President, you are misled by fake news. #Bitcoin & #Blockchain happens to be the best chance for US! I’d love to invite you to have lunch with crypto leaders along with @WarrenBuffett on July 25. I guarantee you after this lunch, nobody will know crypto more than you!

— Justin Sun (@justinsuntron) July 12, 2019

Whatever Donald Trump had in mind by making a tweet about Bitcoin, it has apparently done nothing more than pushing the cryptocurrency into mainstream consciousness.

It may not affect the price of the cryptocurrency in the meantime but it would certainly have an effect since there are people who want to do whatever Donald Trump says is wrong.

Meanwhile, Bitcoin at the time writing was exchanging hands at roughly $11,200, with a market cap just below $200 billion, marking a 3% decline in the last 24 hours.