US President Donald Trump voiced his resistance to cryptographic forms of money in general, refering to Bitcoin and Libra explicitly, in a progression of tweets distributed around 8:15 p.m. EST on July 11.

The full content of the three tweets peruses:

“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....

“...Similarly, 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, both National…

“...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!”

What incited Trump to issue these tweets involves theory. They came the evening of Trump's "Web based life Summit," a shut entryway gathering that united some conservative internet based life notables. The occasion may have put Facebook at the highest point of Trump's psyche.

Probably, the looming congressional hearings on Facebook's Libra Project, planned for next Tuesday and Wednesday, July 16 and July 17, likewise enlivened Trump to tweet regarding the matter.

The expected aftereffect of these tweets regarding arrangement or practice stays questionable.

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