Despite President Trump's criticism of cryptos, Bitcoin and its allies are bid this morning...

Trump voiced his opposition to cryptocurrencies as a whole, citing Bitcoin and Libra specifically, in a series of tweets published around 8:15 p.m. EST on July 11.

The full text of the three tweets reads: 

"I am not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity....

"...Similarly, Facebook Libra's 'virtual currency' will have little standing or dependability. 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. We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States Dollar!"

image courtesy of CoinTelegraph

Of course this sparked chaos on social media - likely exactly what Trump wanted - as Crypto friends and foes went to battle.

As CoinTelegraph reports, President Trump saying he is not a fan of Bitcoin and cryptocurrency is "yuge" for the industry, commentators were suggesting after new tweets on July 12.

In the hours after the United States' president delivered his lackluster appraisal of crypto, the Bitcoin price stayed stable, only to then begin growing to hit 5% gains Friday.