Trump’s rant against crypto was ‘baffling’ and ‘depressingly archaic,’ says financial advisory CEO

On Thursday President Trump tweeted that he “was not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”

The head of a financial advisory firm has referred to Trump’s thoughts on cryptocurrencies are “archaic” and “baffling.”

Nigel Green, the founder and CEO of deVere Group said: “When everything from voting to music to books is already digital, dismissing digital currencies in a digital era is, frankly, bizarre and looks depressingly archaic.”

“Does the President seriously think that traditional, fiat currencies are the way forward?”

Read more: Trump blasts Bitcoin and says cryptocurrencies, including Facebook’s Libra, should be ‘subject to all banking regulations’

Green added: “Standing on the sidelines, or worse looking backwards, on the issue of cryptocurrencies – which are redefining and reshaping the financial system – is a baffling approach for the leader of the world’s largest economy to take.”

Powered by WPeMatico