US President Trump: Bitcoin is not a currency, it is an "air coin"

US President Trump is known for his mantra "Nobody knows better than I do ." “Nobody knows more about taxes and income than I do!” “Nobody knows architecture better than I do.” “Nobody knows more about campaign funding than I do.” “Nobody knows technology better than me.” This time, cryptocurrency Trump was finally alarmed by the "omniscience and omnipotence". Is it true that Trump’s commander will stage a “Nobody understands money more than I do”?

Trump commented on Bitcoin and Facebook Libra and other cryptocurrencies on Twitter today. He said:

“I am not a fan of Bitcoin or other cryptocurrencies. These cryptocurrencies are not currencies, they are highly volatile and are issued on the air.”

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He believes that unregulated crypto assets can facilitate illegal activities by criminals, including drug trafficking and other illegal activities.

Then he directed the Facebook Libra. He believes that Facebook Libra virtual currency has no (legal) status and no reliability.

“If Facebook and other companies want to be a 'bank,’ they must seek new bank regulations and comply with all banking regulations, like domestic and international, like other banks.”

Finally, he also stressed:

"The United States has only one real currency, and it is stronger than ever. It is by far the most important currency in the world, and it will always maintain this status. It is called the US dollar."

However, many netizens do not buy it. Under the tweet, some netizens said that the US dollar is also based on air. Some netizens posted a picture showing the changes in purchasing power of the US dollar from 1913 to 2013. The data shows that for $1 in 1913, there was only $0.05 in purchasing power in 2013. I don't know what Trump thinks about seeing this picture.

Of course, President Trump's comment on cryptocurrencies does prove that the term is entering the mainstream. Moreover, due to its huge influence, Trump's tweets about cryptocurrencies have been tens of thousands of likes and forwards, which is undoubtedly a huge advertisement for cryptocurrency. New York Times reporter Nathaniel Popper forwarded Trump's tweet and said:

"Now you can no longer say that cryptocurrencies have been ignored."

Trump’s comments are not the first time a national leader has expressed his views on cryptocurrencies. In June of this year, Brazilian President Jair Bolsonaro said in an interview that he did not know what Bitcoin was. But after a brief understanding, fear that Bitcoin will undermine the country's monopoly on money. It can be foreseen that in the future, leaders of various countries will increasingly mention cryptocurrencies, but for now, the focus is still a negative factor. The encryption industry still needs to work hard to get rid of stigma and actively embrace regulation, so that more people can truly realize the value of cryptocurrency.

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