There’s No Such Thing as Bad Publicity: Trump Bashes Bitcoin

Donald Trump has posted a tweet earlier today where he openly bashed Bitcoin and all other cryptocurrencies. According to him, crypto is not money, it’s based on thin air, and is highly volatile with unregulated coins facilitating illegal activities, such as drug trade.

Libra Is Under The Gun As Well

Trump has similar views on Facebook’s upcoming cryptocurrency, expecting Libra to have “little standing or dependability.”

According to the POTUS, Facebook has to seek a new Banking Charter, becoming subject to all national and international banking regulations in order to provide financial services.

Ironically, Trump has also grabbed the chance to shill the USD, claiming that it is “stronger than ever” as well as calling it the “most dominant currency” of the world.

There’s No Such Thing as Bad Publicity

Despite Trump’s crypto bash, the predominant sentiment within the cryptocurrency community is that his words were actually good news. As we all know, there’s no such thing as bad publicity.

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With almost 62 million followers on Twitter, Trump has made crypto famous by getting 12,300 retweets, 41,000 likes, and 12,600 comments (and still counting) just for his first tweet.

It appears that this is one of the most powerful advertising campaigns crypto ever went through. And it was for free.

The Trump Effect

Following Trump’s tweet, all major cryptocurrencies have started an uptrend with BTC gaining over $400 in three hours after a significant downturn on Thursday.

The biggest winners of Trump’s bashing are Stellar, Cardano, and Binance Coin that gained 8.1%, 4.7%, and 8.3% in 24 hours, respectively.

Furthermore, looking at Bitcoin’s Google Trends chart, the searches for the phrase “bitcoin” have significantly increased – from 41 to 100 – after Trump’s tweets in the United States.

Trump bitcoin google trends
Google searches for the phrase “bitcoin” has shot up after Trump’s tweets.

 

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