Bitcoin price dips after Trump calls it a scam

Donald Trump

Never change, Donald! Former President Donald Trump has bashed Bitcoin in favor of the US dollar, continuing his historically combative relationship with the cryptocurrency.

This latest round of attacks against Bitcoin came on Monday, after he called the world’s most popular cryptocurrency a scam against the dollar that US regulators should take action to monitor. Trump criticized the crypto during an interview with Stuart Varney on the Fox Business Network.

When asked about his thoughts on Bitcoin, the ex-president said that he doesn’t like it, and it seems like a scam, emphasizing his belief that the currency of the world should be the dollar.

His words:

“Bitcoin, it just seems like a scam. I don’t like it because it’s another currency competing against the dollar … I want the dollar to be the currency of the world. That’s what I’ve always said.”

He also called for a greater monitoring of cryptocurrencies, saying that they should be regulated very, very high.

Trump’s comments drove a dip in the value of Bitcoin, as its price fell by over 1.3% in the hour after the interview. The price rebounded back to $36,000 during trading hours, but the impact of these latest comments goes beyond that.

Besides, this is not the first time that Trump has voiced a negative opinion about Bitcoin. Back in 2019, the president said on record that he was not a fan of Bitcoin and other cryptocurrencies, and he spoke on several occasions about outlawing cryptocurrency altogether.

The price of BTC fell by about $10,000 then.


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