According to the new book ‘The Room Where It Happened’ by former national security adviser John Bolton; US President Donald Trump wanted to pursue Bitcoin long before he made his famous tweet on Twitter in July 2019. Donald Trump apparently told the Treasury Secretary to “follow Bitcoin” in 2018.
According to Forbes’ article about Bolton’s new book, Bolton heard Trump telling Treasury Secretary Steven Mnuchin to “follow Bitcoin”. The conversation between the US President and the Secretary Secretary was about commercial sanctions and tariffs against China in May 2018.
Trump Criticized Bitcoin Last Year
In July 2019, US President Donald Trump made tweets showing that he did not approve the leading cryptocurrency Bitcoin. President Trump described Bitcoin as “not money” and “overstated bubble.” Criticizing Facebook’s Libra token as “his feet are not firm on the ground,” Trump continued to attack crypto assets. US Treasury Secretary Steven Mnuchin spoke to Trump’s rhetoric after the tweets in July 2019, saying that the White House “is reviewing all crypto assets”. The Secretary even claimed that BTC and other cryptocurrencies were used more often than money laundering in money laundering.
The U.S. Treasury Secretary has announced plans to announce new requirements for cryptocurrencies.
Earlier this year, US Treasury Secretary Mnuchin said in a statement; the federal government will announce new important conditions for cryptocurrencies with the Financial Crimes Protection Network, including more oversight to prevent money laundering. However, after the speech claimed by Bolton took place, Trump also made some decisions in favor of the cryptocurrency. President Trump appointed Mick Mulvaney as the Chief of General Staff of the White House in 2018. Mulvaney is known as a pro-Bitcoin top official and describes the leading cryptocurrency as a currency that cannot be manipulated by any government.
As the election season progresses, things can be said about this area will increase, but it is a symbolic area related to an apolitical global industry and freedom, creating many jobs and innovations.