Donald Trump Wanted to Kill Bitcoin, According to John Bolton

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Thu, 06/18/2020 - 07:46
Alex Dovbnya
U.S. President Donald Trump wanted to crack down on Bitcoin trading, according to a leak of John Bolton’s controversial book
Cover image via en.wikipedia.org
Contents

According to a leaked copy of ‘The Room Where It Happened,’ the soon-to-be-released book penned by former national security advisor John Bolton, U.S. President Donald Trump personally told Treasury Secretary Steven Mnuchin to ‘go after Bitcoin.’ 

The Washington Examiner reports that the POTUS wanted to curb ‘the trading and selling’ of the largest cryptocurrency. 

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Popping the Bitcoin bubble 

Trump’s hostility towards Bitcoin shouldn’t come as a surprise given that he himself tweeted that he wasn’t a fan of it on July 12, 2019.

The president took aim at Bitcoin and other cryptocurrencies because of their volatility and their popularity with criminals while insisting that the U.S. dollar ‘will always stay’ the world’s dominant currency.      

While many initially assumed that Mnuchin was the source of his ire, the book mentions that Trump demanded Mnuchin to crack down on Bitcoin back in May 2018. 

Last October, ex-CFTC Christopher Giancarlo revealed that the Trump administration was able to burst the cryptocurrency bubble by green-lighting Bitcoin futures in December 2017.  

Lashing out at Bolton

The 577-page book also contains plenty of other damning revelations such as Trump seeking some help from Chinese President Xi Jinping to secure a second term.

However, claims that ‘The Room Where It Happened’ is ‘made up of lies’ and ‘fake stories’ in a recent tweet.

image by @realDonaldTrump

The Department of Justice sued Bolton to delay the publication of his tome because it contains classified information. 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.


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