Trump ‘Will Ban’ Bitcoin When Price Reaches $100,000


Bitcoin could see a total ban in the United States if its price reaches $100,000, a well-known industry commentator has warned. 


Tom Lee: ‘Nothing Out Of Reach’ For US Gov’t

In a Twitter debate about Washington’s snap ban on flavored e-cigarettes on Sept. 11, Fundstrat Global Advisors co-founder Tom Lee vented concerns about lawmakers’ power to wipe out entire markets overnight.

A regular Bitcoin 00 commentator, Lee noted previous negative comments on crypto by President Donald Trump and his administration. 

The ease with which e-cigarettes will disappear from the US, he suggested, meant other contentious phenomena could suffer the same fate.

Binance Banner  

“This is un-related but shows White House can issue an ‘executive order’ banning anything. And could even ban bitcoin,” he wrote.

“Not expecting it. But with current White House, there is “nothing out of bounds nor out of reach.”

According to a statement on Wednesday, the US government and the Food and Drug Administration (FDA) are determined to eradicate e-cigarettes, at least temporarily, in order to assess their safety.

Complaints allege manufacturers such as Juul are deliberately targeting underage consumers with nicotine-based products. Reports of a “mystery” lung disease on the rise have exacerbated demands for a ban.

Now, flavored e-cigarettes will no longer be available for purchase legally, and must be withdrawn within 30 days. 

Agreement On $100K Bitcoin Ban

Continuing the debate about the likelihood of a Bitcoin ban, Lee argued government temperament directly depended on price. 

Trump tweeted his dislike for cryptocurrency when BTC/USD circled $10,500. Should it become worth ten times that he said, the Trump administration would be much more likely to forbid US residents to use it. 

Coinbase Banner  

“True, agree,” he wrote in response to another Twitter user who forecast the $100,000 ban.

While the concept of a state outlawing the supposedly ‘unbannable’ decentralized Bitcoin often sparks anger, little evidence has emerged of how governments would apply such a law.

Attention currently focuses on India in particular, where authorities have repeatedly called for the criminalization of any cryptocurrency not approved by them. 

While some dismissed the idea as unworkable by default, Delhi sparked considerable anger from the industry. Tim Draper, the billionaire investor and supporter of Bitcoin and Blockchain project Tezos, called India’s government corrupt. 

“They are in fact saying, ‘we will not tolerate progress.’ It will set them back 40 years,” he said in July.

FreeBitcoin Banner  

Do you think the US would ban Bitcoin at $100,000? Let us know in the comments below!


Images via Bitcoinist Image Library

The Rundown

Go to Source
Author: Anja van Oosterhout


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.