Trump Has Tweeted About Cryptocurrencies!
We have come to expect pretty much anything in the world of finance, especially in the contrarian and controversial cryptocurrency markets.
For years, many have speculated on the stance Trump carries towards Bitcoin and whether or not he is a secret holder of popular digital assets. We now have an idea of what the President thinks, or at least a distorted idea based on his position as President.
In the wake of the FED’s insanity, looming global recession, and the world slowly dumping the dollar, Trump came out and denounced Bitcoin’s role as money and claimed its value is based on “thin air,” with further accusations of cryptocurrencies allowing “unlawful behavior and illegal activity.”
It did not stop there: Trump continued to slander Facebook’s Libra cryptocurrency, with a tough stance on the new cryptocurrency and bold demands for Facebook to conform to banking regulations and international laws.
The last tweet is a hollow claim at the U.S. dollar being the only real, reliable, and dominant currency in the world. It’s important to remember while reading that third tweet that the U.S. dollar has lost over 90% of its purchasing power in the last 100 years, been unpegged from a tangible asset, and crippled the generational wealth of millions.
Buy the Bad News! Remember When Jamie Dimon Trolled Everyone and Built His Own Coin?
Contrarians are reading between the lines of Trump’s historic Bitcoin tweet. It’s not uncommon for mainstream media and key figures to say one thing while doing the exact opposite… let’s not forget JPMorgan CEO Jamie Dimon’s claim of Bitcoin being a FRAUD in 2017!
“If you’re stupid enough to buy it, you’ll pay the price one day.” – Jamie Dimon, CEO of JPMorgan.
Two years later, JPMorgan launches its own cryptocurrency using a blockchain with similar protocols to Ethereum!
“The applications are frankly quite endless; anything where you have a distributed ledger which involves corporations or institutions can use this.” – JPMorgan, Head of Blockchain Operations
It’s likely the President is attempting to keep morale high as the world slips into an overdue recession. The President’s negative take on cryptocurrencies has been heralded as a huge victory for Bitcoin and cryptocurrencies; Coinbase CEO Brain Armstrong has described the tweets as an “achievement unlocked.”
Others have highlighted how far cryptocurrencies have come if major figures such as the President himself have to address the growth and potential of what blockchain technology is bringing.
It once again shows that the global financial and corporate empire is taking this emerging asset class more seriously than they are letting on. The thought of the masses not having any dependency on central banks and government frightens them to their very core!
It’s another victory for Bitcoin and ALL cryptocurrencies!
This is not investment advice; please always do thorough research and only invest what you are willing to lose, especially in times of uncertainty.