Former US President Donald Trump: Bitcoin Looks Like a Scam

1 week ago

The former president of the United States, Donald Trump, said that bitcoin looks like a scam as it competes with the US dollar.

https://i0.wp.com/storage.waploaded.com/images/6f34b8387bd2e24120f49da1f47ddf9f.jpeg

Former President of the United States Donald Trump has said that he is not a fan of bitcoin because of the threat the flagship cryptocurrency poses against the U.S. dollar.

https://i0.wp.com/storage.waploaded.com/images/480a8f89577ce9a47cb479b3a16d7453.jpegDonald Trump. Image by Bloomberg

  • In a telephone interview on Monday (June 7, 2021), Trump called bitcoin a scam because he did not like that the biggest cryptocurrency by market capitalization was competing against the U.S. dollar.

  • According to the former U.S. President, the dollar’s hegemony status should be permanent.

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

  • Meanwhile, Trump’s dislike for bitcoin is not new, as the former U.S. president has always believed that BTC and other crypto-assets should not be regarded as money. Back in 2019, Trump said that bitcoin was highly volatile and its value was based

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