Causes of Donald Trump Attacking Bitcoin and Facebook Digital Currency ?
Sentiment towards Libra also came from the President of the United States (US) Donald Trump. He suddenly launched an attack on Bitcoin and other crypto money. Trump said the digital currency is not money and has the potential to break the law
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Bitcoin Value Drops After Facebook Digital Currency Suspension
Athika Rahma Thika Rahma
17 Jul 2019, 20:00 WIB
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Bitcoin
Bitcoin illustration (iStockPhoto)
Liputan6.com, Jakarta - The value of bitcoin has declined again after it had risen some time ago. Three weeks ago, the value of bitcoin touched USD 12,733 or around Rp 178 million assuming the exchange rate of USD 1 was equal to 13,981.
The world's largest digital currency fell 12 percent to USD 9,591 at exactly 3 New York time, as quoted by Bloomberg, Wednesday (7/17/2019). Overall, the value of bitcoin has fallen by 25 percent since its highest figure last June.
Other currencies, Ethereum and Litecoin also fell by 13 percent.
This is thought to have occurred because of the suspension of the development of the digital currency Facebook, Libra by US regulators. The US Senate Banking Committee is trying to review the structure of the digital currency before it actually circulates on the market.
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Some policymakers describe Facebook as a toddler playing with matches and burning his place of residence, because Facebook itself is often involved in scandals, for example Cambridge Analytica where data from tens of millions of users are used without permission.
Obviously observers highlighted financial regulators who had to work harder because the presence of digital currencies that go hand in hand with government-issued paper currencies would have an impact on the economy.
Meanwhile, the role of Libra and Bitcoin itself actually reinforces each other, because the value of Bitcoin is increasing as a result of the launch of Libra. Even so, if calculated, the current value of Bitcoin is still double that of its first value of around USD 4,000.
Donald Trump attacks Bitcoin and Facebook Digital Currency
Bitcoin
Bitcoin illustration (iStockPhoto)
Sentiment towards Libra also came from the President of the United States (US) Donald Trump. He suddenly launched an attack on Bitcoin and other crypto money. Trump said the digital currency is not money and has the potential to break the law.
"I am not fond of Bitcoin and other Crypto Currencies, which are not money, and the value is very volatile and based on empty air. Unregulated Crypto assets can facilitate illegal actions, such as drug trafficking and other illegal activities," Trump said via his Twitter account. .
"If Facebook and other companies want to become banks, they must get a new Banking Charter and submit to all Banking Regulations like other banks, both National and International," Trump said.