Trump dunks on Facebook's Libra in cryptocurrency tweetstorm

It's official: Donald Trump does not like Bitcoin.

Or, for that matter, anycryptocurrency — including Facebook's proposed Libra. He made that much clear in a Thursday evening tweetstorm dunking on the latest proposed entrant in the digital currency world.

"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," tweeted the President. "Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity...."

He continued that "Facebook Libra’s 'virtual currency' will have little standing or dependability. If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks [...]"

Mashable Light Speed Want more out-of-this world tech, space and science stories? Sign up for Mashable's weekly Light Speed newsletter. By clicking Sign Me Up, you confirm you are 16+ and agree to our Terms of Use and Privacy Policy. Thanks for signing up!

Tweet may have been deleted

Facebook's Libra has faced pushback since it was officially announced in June, but this is the first time Trump has weighed in on the matter.

Tweet may have been deleted

Unsurprisingly, crypto Twitter is freaking out.

Tweet may have been deleted

Tweet may have been deleted

Tweet may have been deleted

Some, perhaps not thinking highly of the President's intelligence, are taking the tweets as a bullish sign.

Tweet may have been deleted

Either way, Trump has now weighed in on the great cryptocurrency debate. It's just an added bonus that he decided to dunk on Facebook while doing so.

---

Featured Video For You

---

Facebook’s new currency, Libra, is being taken seriously by big banks

---