US President Donald Trump told Treasury Secretary to go after bitcoin back in 2018, according to former national security advisor John Bolton’s new book ‘The Room Where It Happened’.
The Forbes article about Bolton’s new book reveals Bolton heard Trump tell Treasury Secretary Steven Mnuchin to “go after Bitcoin”. The conversation between the US President and Treasury Secretary was regarding trade sanctions and tariffs against China in May 2018.
Back in July 2019, the US President made a series of tweets showing his disapproval for the leading cryptocurrency, bitcoin. The President called Bitcoin “not money” and “based on thin air”. He continued by attacking Facebook’s Libra token as having “little standing or dependability”. The US Treasury Secretary Steven Mnuchin backed Trump’s position in the media following the July 2019 tweets, saying the White House was “looking at all of the crypto assets.” He even claimed that BTC and other cryptocurrencies are used for money laundering more often than cash is.
However Trump has also taken some decisions that may have benefited cryptocurrency after the conversation alleged by Bolton took place. The President had appointed Mick Mulvaney as the White House chief of staff in 2018. Mulvaney is known pro-Bitcoin official and has called the leading crypto a currency that’s not manipulatable by any government.