Former US President Donald Trump says he dislikes bitcoin because it is a currency that competes with the dollar. He wants to be the world’s currency. He calls bitcoin a scam and wants the cryptocurrency to be heavily regulated.
Trump Thinks Bitcoin is a Scam and require strict regulations on Crypto.
Donald Trump spoke about bitcoin in an interview with Fox Business Monday in response to comments that he doesn’t like bitcoin and that he won’t invest in it. Trump Says Cryptocurrency “Looks like a scam.” He noted that when he was president, bitcoin’s price was just $6,000, much lower than it is now, adding:
I don’t like it because it’s another currency that competes with the dollar. It’s basically a currency that competes with the dollar. I want dollars to be the currency of the world. That’s what I always say.
former US president also talked about bitcoin in response to questions about cyber attacks on big companies.
It was emphasized several times during the interview that “The currency should be dollars,” he explains, “when you have that thing there. you know what happened You are really losing something.” He added:
It took the edge off the dollar and the importance of the dollar.
Trump reiterated, “My opinion is that the currency of this world should be the dollar. And I don’t think we should have all the bitcoins in the world,” further explaining: “I think they should control them very, very, very high.”
Trump was never a fan of bitcoin in July 2019 when he was the president of the United States. He commented on bitcoin and cryptocurrencies. Typically in a series of tweets:
I am not a fan of bitcoin and other cryptocurrencies which is not money. and has a high volatility and dependent value Unregulated crypto assets can promote illegal behavior. including drug trafficking and other illegal activities.
The former president also targeted Libra, a crypto project proposed by social media giant Facebook. Libra is now called Diem. Trump’s tweet said “Facebook Libra’s virtual currency would have little presence or credibility if Facebook and other companies want to be a bank They must seek a new banking charter and be subject to all banking regulations. Like other banks both at home and abroad
Trump summed up his series of tweets: “We have only one real currency in the United States. And the currency is stronger than ever. both reliable and reliable It is the most influential currency in the world. And it will always stay that way. It’s called the US dollar.”
What are your thoughts on Trump’s comments on bitcoin and the US dollar? Let us know in the comment section below.
photo credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell. or advice or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the authors are liable, directly or indirectly, for any damage or loss. Any liability arising out of or allegedly arising out of or in connection with the use of or reliance on any of the content, goods or services discussed in this article.