Expert: Trump’s Crypto-Bashing Staff Is Duping Him on Bitcoin
Crypto advocate Caitlin Long urged U.S. President Donald Trump to reconsider his anti-bitcoin stance, saying he is being misled by his staff. | Source: Shutterstock (i), Brendan Smialowski / AFP (ii). Image Edited by CCN. Bitcoin advocate Caitlin Long unleashed an impassioned tweet storm in reaction to U.S. President […]
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Bitcoin advocate Caitlin Long unleashed an impassioned tweet storm in reaction to U.S. President Donald Trump's anti-crypto remarks. Long says Trump is being misled by his staff and argued that crypto could function within the law — despite what he fears.
Caitlin Long Warns Trump That Staff Is Misleading Him on Bitcoin
In an unexpected series of tweets, Trump declared that he is not a fan of bitcoin or other cryptocurrencies. Trump explained that crypto is "not money," and took issue with bitcoin's extreme volatility. Moreover, he said its value is "based on thin air."
Trump also expressed concern that virtual currencies could be used to facilitate crimes, such as drug trafficking.
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 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!
Caitlin Long, a former Wall Street executive-turned-blockchain-advocate, reacted by urging Trump to reconsider his anti-crypto positions.
Long, the co-founder of the Wyoming Blockchain Coalition, tweeted that Wyoming "welcomes law-abiding crypto companies and created a new type of bank charter to allow them to comply with the law."
Long insists that Trump is wrong in opposing bitcoin, saying his anti-crypto positions are the result of bad advice.
"The crypto genie can’t be put back in the bottle and if the US fights this, we will simply be bypassed by other countries that are welcoming it. You are just wrong on this...Your staff isn’t giving you good advice."