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Bitcoin Slumps to Near $10,000 on Trump’s Negative Comments

© Reuters.
© Reuters.

Investing.com – slumped to near $10,000 on Monday in Asia as negative comments from U.S. President Donald Trump late last week continued to weigh.

Trump said on Twitter Thursday that he is “not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air,” adding that “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.”

Bitcoin initially jumped almost 7% following his comments, but has plunged more than 15% since Friday.

Trump also criticized Facebook’s (NASDAQ:) plans to launch its own digital currency, Libra.

“If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National and International,” he said.

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Source: investing.com
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