Pompliano: Trump’s Tweet Puts Spotlight on Lack of Trust Bitcoin Solves

Last night, the entire crypto Twitter became electrified with chatter when United States President Donald Trump tweeted about magic internet money, also known as Bitcoin and cryptocurrencies.

According to Morgan Creek Digital partner and co-founder Anthony Pomp Pompliano, while Trumps tweet was indeed significant, it also sheds a light on how Bitcoin is designed to address the trust issues that humanity faces with governments, and corporations in charge.

Pomp: Trump Tweets About Bitcoin and Crypto, Highlights Trust Issues

In a recent interview appearance on CNBCs Squawk Box with host and recent Bitcoin supporter Joe Kernen and correspondent Melissa Lee, Morgan Creek Digital partner and co-founder Anthony Pompliano discussed the significance of United States President Donald Trump tweeting about Bitcoin and cryptocurrencies, or as he calls them magic internet money.

Related Reading | Crypto Pundit and Goldbug Peter Schiff Begins to Warm Up to Bitcoin

The outspoken Bitcoin evangelist who recently gifted goldbug Peter Schiff his first BTC says he never envisioned the day when the president would be tweeting about cryptocurrencies like Bitcoin.

It wasnt just Trump yesterday that made comments about crypto that caused an uproar. The Federal Reserve chairman Jerome Powell also made a comparison of Bitcoin to gold, which caused the crypto industry to erupt with bullish sentiment.

While these comments dont necessarily mean that Bitcoin is favored by these government officials, in fact it’s the opposite – Trumps tweet was negative toward crypto, saying its used for illicit activities and its value is made of thin air. Still, the exposure cryptocurrencies have received lately is nothing short of amazing considering how new the asset class is and how it was treated during the last bull run.

Now, its getting the respect it deserves, and it appears governments are starting to fear what comes next now that the cat is out of the bag with crypto. Much of the negative comments actually come from Facebook entering the arena with Libra, which has shaken up the political world over concerns of trust and privacy.

However, as Pompliano points out, Bitcoin addresses many of the trust issues all of humanity faces with governments and major corporations like Facebook becoming so powerful and so controlling, freedom is in jeopardy. Unlike Facebooks trojan horse, designed to mine user date that can be sold to the highest bigger, Bitcoin is entirely decentralized, trustless, and needs no controlling party for it to operate.

Related Reading | Venture Capitalist: Bitcoin is the Single Best Hedge Against Traditional Finance

Bitcoin cannot be stopped or controlled, and to many, Bitcoin is the first glimmer of freedom from the control governments have over them, just as Satoshi Nakamoto designed it to be amidst the last economic collapse.

Featured image from Shutterstock

The post Pompliano: Trumps Tweet Puts Spotlight on Lack of Trust Bitcoin Solves appeared first on NewsBTC.

12.07.2019 / 11:00 45
President Trump’s Crypto Tweet ‘Wildly Bullish’ For Bitcoin President Trump’s Crypto Tweet ‘Wildly
US President Donald Trump practically lives on Twitter so anything he tweets gets a global audience. Whether positive or negative, his tweets get
Donald Trump Not a Fan of Bitcoin And Crypto? Too Volatile, He Says Donald Trump Not a Fan of Bitcoin And
Wow, just wow. Donald Trump, the president of the United States, has openly commented on Bitcoin and crypto assets. On Twitter no less. This is
NYPost Columnist Asks Donald Trump to Investigate Bitcoin Manipulation NYPost Columnist Asks Donald Trump to
A New York Post columnist has asked the United States, the European Union, and Chinese authorities to investigate who is behind the price
Bitcoin Fund Bets $1M That Crypto Will Outperform S&P 500 Bitcoin Fund Bets $1M That Crypto Will
Morgan Creek Bullish On Crypto, Issues $1M“Buffett Bet 2.0” Morgan Creek Capital, a juggernaut in investment management, recently saw its
Bitcoin Fundamentals Haven’t Changed, Says Anthony Pompliano Bitcoin Fundamentals Haven’t Changed,
Bitcoin isnt dead, says Anthony Pompliano, despite the current massive cryptocurrency price plummet. The Morgan Creek Digital Partner believes
Crypto Hedge Funds are Going to Start Shutting Down: Morgan Creek Crypto Hedge Funds are Going to Start
The depths of this year’s cryptocurrency bear market evidently show significant signs of further trouble. According to notable crypto figure and
Comments (0)
Add a comment
Comment on