Updates of President Trump’s series of bashing tweets on Bitcoin, Libra and other cryptocurrencies spread like wildfire. While his twitter threads invited strong backlash from crypto community-on the other hand, Bitcoin backers actually received it as a positive note.
At Least He Notices Us.!
U.S President Donald Trump’s critique of Bitcoin has been assumed as “achievement unlocked” by Brian Armstrong” founder of largest crypto exchange, Coinbase. He thinks it’s a welcome move and compares it to a famous quote “First they ignore you, then they laugh at you, then they fight you and then you win”. According to Brian, the community has just won the third step following trump’s firing tweets on Bitcoin.
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
Trump’s tweet quickly gotten the attention of worldwide users and few members of the crypto community thinks that it has actually brought global users to the crypto industry. In fact, few thanks Trump, citing a quick surge in the price of Bitcoin and the interest documented by Google Trends.
While the president expressed his stern opinion on Bitcoin, Libra and other cryptocurrencies, it is believed that regulators are way closer to introduce regulations around crypto. Henceforth seeking Libra to follow banking regulations over its own cryptoucrrency’s launch.
No Affect on Crypto Market
Besides this, many think Trump’s statement had no adverse effect on the price of Bitcoin. In fact, according to the data from the Coinmarketcap,