Chris’ note: Chris Reilly here, longtime managing editor of Casey Daily Dispatch. And if you’ve been reading the Dispatch, you know President Trump is “not a fan” of bitcoin and other cryptocurrencies.
Here’s what he tweeted not too long ago:
Following the tweet, bitcoin’s price tumbled as much as 17% over the next three days.
Trump went on to say that the U.S. dollar is the only real currency in America:
Should bitcoin buyers be worried?
To find out, I reached out to our in-house crypto and blockchain expert, Marco Wutzer.
Marco is the senior analyst of Disruptive Profits. He’s also a true crypto pioneer.
He’s been involved with digital currencies since the late 1990s… and made so much money speculating on digital currencies that he dropped everything a few years ago to travel the world.
In short, it pays to listen to him.
I wanted to know what Trump’s tweets really mean… and whether it changes anything going forward. Here’s what Marco had to say…
Chris: Hi, Marco. Let’s get right to it…
For the first time, Trump came out and publicly shared his thoughts on bitcoin and other cryptos. As you know, they’re not positive.
Is this something readers should be concerned about?
Marco: For me, all of this is absolutely unimportant.
That’s because Trump (or anyone for that matter) has zero authority over decentralized cryptocurrencies – or the Blockchain Ecosystem, the network of blockchains that will power the new economy.
I try not to waste any attention or mental processing power on any of this stuff, because it’s completely irrelevant.
When it comes to cryptos, any real project that is decentralized means it’s censorship-resistant and immutable. So it’s guaranteed for anyone to access it and use it.
And no politician, central banker, or president anywhere can have a significant effect on it.
Chris: Not surprisingly, bitcoin dropped on the news… Is this a case of people overreacting?
Marco: Yes. It’s very common for people to ascribe recent price action in the market to what’s going on in the media.
But ultimately, there are so many factors in this globally connected ecosystem that nobody can truly say with any certainty if this is even affecting the price… or if it’s something else entirely. And even if it was this, it’s all attention-driven and will only be temporary.
Chris: So it sounds like this is all just noise. And it has nothing to do with your long-term outlook.
Marco: That’s absolutely right, Chris. “Noise” is the key word here.
If you go forward in time, two to three weeks from now, nobody will talk about this anymore. Some other topic of the day will come up.
And the other thing you just mentioned is the time frame.
The Blockchain Ecosystem is slowly rising, and this process will unfold over many years or even decades. So what happens day-to-day is really unimportant.
You always are best served to keep the big picture in mind. And to focus your attention and resources on where you can have the biggest benefit and the most leverage.
Today, that’s investing in decentralized tokens that will eventually take over big parts of the economy and financial system.
Chris: Now, Trump also tweeted that the U.S. dollar will always be the most dominant currency in the world. What do you have to say about that?
Marco: The dollar is just a fiat currency like any other.
But what’s funny is that Trump says bitcoin is based on thin air. Of course, that’s entirely not true. And by the way, what is the U.S. dollar based on?
That’s the Achilles’ heel of the U.S. dollar. Meanwhile, bitcoin is backed by its protocols… its guaranteed inflation rate… and the fact that it’s immutable and censorship-resistant.
Nobody can mess with it or inflate it like they can the dollar.
Whether Trump wants to admit it or not, humanity now has a more superior form of money.
We have a decentralized, digital money that nobody can touch.
Rest assured, it’s here to stay.
Chris: Thanks, Marco. Great stuff. Before I let you go, anything else you’re seeing in the space today? Any new bullish developments readers should get excited about?
I just got back from the Crypto Valley Conference in Switzerland. Security tokens and related platforms were a big topic.
I learned about some interesting new ways in which the Blockchain Ecosystem is taking over the legacy financial system. Readers can get the full scoop in my upcoming Disruptive Profits issue this Thursday. I’ll have a lot to say about this.
Chris: I’ll be keeping an eye out for sure. Thanks, Marco.
Marco: My pleasure.
Chris’ note: As we’ve shown you, Marco’s no stranger to spotting the best opportunities to profit from bleeding-edge technology. And he believes he’s found the next technological breakthrough that will deliver early investors a fortune.
It all has to do with a deadly flaw in America’s national security. A tiny, $10 million company is developing a solution to this problem… and it could disrupt a $2.9 trillion market.
You can get all the details right here.