Trump Tried in 2018 but Not Even The President Could Stop Bitcoin

Governments all over the world have tried to ‘kill’ Bitcoin. But as many have realized, this is quite not possible. Its decentralized nature means you can only ban its trading.

And even then, it through the fear of arrest that keeps people from engaging with Bitcoin. Among those against Bitcoin is U.S President Donald J Trump who simply believes the USD is the strongest currency.

But if you’re reading this, you know that this is an injured and put frankly dying horse.

Bitcoin has been around for around a decade. And while it began as a small club, it has grown into a world-class asset worth billions of dollars. For much of the decade, it was under wraps. But starting 2013, prices picked up and the world started noticing it.

By 2017, it was unstoppable as it grew from a valuation of less than $1,000 to $20,000 in less than 12 months.

Although most learned about Trump’s dislike of Bitcoin in 2019 when he tweeted this;

It has been revealed that Trump had begun monitoring Bitcoin in 2018. Further calling upon his administration to go after it. This has been revealed through former NSA head John Bolton’s leaked book.

Trump Fights New Book

Although the entitled “The Room Where It Happened,” book is unpublished and its facing injunction from the White House, its content has been leaking.

In the book, it is clear that Trump asked the Treasury Secretary to go after Bitcoin. It has been argued that he wasn’t happy with its use to fund illegal activity and volatility. others say he did not like the threat it posed on the USD.

When Trump bashed Bitcoin in 2019, there was a lot of talk on whether he could ban Bitcoin. It was clear then that Bitcoin has some support in Washington. More importantly, it was clear that he couldn’t.

Because of this, Bitcoin lives on and continues to get stronger.

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Author: Simon Njenga

Crypto analyst and Author

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