Pompliano: Trump’s Tweet Puts Spotlight on Lack of Trust Bitcoin Solves

Tony "The Bull" Severino

6 years ago

3 mins read

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Last night, the entire crypto Twitter became electrified with chatter when United States President Donald Trump tweeted about “magic internet money,” also known as Bitcoin and cryptocurrencies.

According to Morgan Creek Digital partner and co-founder Anthony “Pomp” Pompliano, while Trump’s tweet was indeed significant, it also sheds a light on how Bitcoin is designed to address the trust issues that humanity faces with governments, and corporations in charge.

Pomp: Trump Tweets About Bitcoin and Crypto, Highlights Trust Issues

In a recent interview appearance on CNBC’s Squawk Box with host and recent Bitcoin supporter Joe Kernen and correspondent Melissa Lee, Morgan Creek Digital partner and co-founder Anthony Pompliano discussed the significance of United States President Donald Trump tweeting about Bitcoin and cryptocurrencies, or as he calls them “magic internet money.”

The outspoken Bitcoin evangelist who recently gifted goldbug Peter Schiff his first BTC says he never envisioned the day when the president would be tweeting about cryptocurrencies like Bitcoin.

"If you said 10.5 years ago the President of the United States is going to be tweeting about magic internet money, we would have never envisioned that day," says @APompliano on bitcoin #btc pic.twitter.com/lQQY46kZUl

— Squawk Box (@SquawkCNBC) July 12, 2019

It wasn’t just Trump yesterday that made comments about crypto that caused an uproar. The Federal Reserve chairman Jerome Powell also made a comparison of Bitcoin to gold, which caused the crypto industry to erupt with bullish sentiment.

While these comments don’t necessarily mean that Bitcoin is favored by these government officials, in fact it’s the opposite – Trump’s tweet was negative toward crypto, saying its used for illicit activities and its value is made of thin air. Still, the exposure cryptocurrencies have received lately is nothing short of amazing considering how new the asset class is and how it was treated during the last bull run.

Now, it’s getting the respect it deserves, and it appears governments are starting to fear what comes next now that the cat is out of the bag with crypto. Much of the negative comments actually come from Facebook entering the arena with Libra, which has shaken up the political world over concerns of trust and privacy.

No turning back! https://t.co/VBc8INJHHz

— Joe Kernen (@JoeSquawk) July 12, 2019

However, as Pompliano points out, Bitcoin addresses many of the trust issues all of humanity faces with governments and major corporations like Facebook becoming so powerful and so controlling, freedom is in jeopardy. Unlike Facebook’s trojan horse, designed to mine user date that can be sold to the highest bigger, Bitcoin is entirely decentralized, trustless, and needs no controlling party for it to operate.

Bitcoin cannot be stopped or controlled, and to many, Bitcoin is the first glimmer of freedom from the control governments have over them, just as Satoshi Nakamoto designed it to be amidst the last economic collapse.

Featured image from Shutterstock

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

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Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.