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Donald Trump is not a Bitcoin fan

The US President Donald Trump said he’s not a fan of Bitcoin and Facebook’s Libra and demands digital coin companies seek a banking charter.

In one of his typical Twitter lectures, US President Donald Trump has made clear his opinions on the topic of cryptocurrencies and Facebook’s upcoming Libra.

“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,” Trump wrote on Twitter.

“If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National and International,” he added.

“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!” concluded Trump.

Trump’s first social media comments on cryptocurrency follow the US Congress demand for Facebook to halt all work on its Libra/Calibra project. Facebook and 28 partners, including Mastercard Inc, PayPal Holdings Inc and Uber Technologies Inc, would form the Libra Association to govern the new coin which is expected to be ready in 2020.

Bitcoin, the best-known digital coin, was created in 2008 as an alternative to currencies controlled by governments and banks, but crypto trading and digital currencies remain largely unsupervised. The market has also faced allegations of money laundering and terrorist financing.

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