Love him or hate him. Agree or disagree with his politics. Donald J. Trump just changed the game for Bitcoin and the overarching landscape of cryptocurrency with the string of tweets sent late last night that you can see above. This outburst came just hours after Federal Reserve Chairman Powell admitted to the world that Bitcoin is acting as a store of value as gold has in the past.
Extremely glowing endorsements of the nascent digital currency and its status in the world whether these two gentlemen know it or not. We officially know that Bitcoin is on the mind of the leaders of the Free World and the most important central bank in the world. A MASSIVE day for the legitimacy of Bitcoin and its place in the world of (now) openly competing currencies. Especially when you take into consideration what Trump said about Libra in juxtaposition to his Bitcoin comments.
It's obvious the President is posturing that he does not like Bitcoin and the use cases it enables (which are also enabled by cash by a far wider margin). However, he did not touch on actions that could or may be taken against the network while simultaneously telling Zuck to apply for a Banking Charter. A silent omission from the President that signals he may not be able to do anything about Bitcoin? Maybe. We shall see.
It's hard for Uncle Marty to walk away from these relatively benign comments from the leader of the free world and his Fed chairman without feeling bullish. Bitcoin is on the stage now. It cannot be ignored. The only question that remains, is anyone willing to attempt to stop it in front of the rest of the world? Would they even be able to if they tried? Time will tell.
Song of the morning.
Enjoy your weekend, freaks.