Fundstrat head analyst Thomas Lee responds to Trumps twitter on Bitcoin

Earlier this week the US Federal Reserve Chairman Jerome Powell made media waves and rocked crypto Twitter when he suggested that Bitcoin is a speculative store of value that functions similarly to an investment in gold. President Trump, who is often at loggerheads with the Federal Reserve, quickly responded by tweeting that Bitcoin is not money and simply a speculative instrument which is often used to facilitate crime. 

Now, Fundstrat head analyst and partner Thomas Lee has weighed in on the issue and according to him Trump’s tweet will have the unintended effect of bringing more attention to Bitcoin. Lee explained that Trump’s disdain for Bitcoin, Facebook’s Libra and cryptocurrencies in general “makes the other 99% more aware” of Bitcoin and funny enough Trump’s signature phrase “Bad publicity is sometimes better than no publicity at all.” 

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