Donald Trump Hates Bitcoin, Calls BTC a Scam

Former US President Donald Trump has said he doesn’t like bitcoin because it is a currency that competes with the dollar, which he wants to become the world’s currency.

He called bitcoin a scam and wanted cryptocurrencies to be regulated very strictly.

Bitcoin Is a Scam, Trump Calls for Strict Crypto Regulation

Donald Trump spoke about bitcoin in an interview with Fox Business Monday. In response to comments that he doesn’t like bitcoin and he won’t invest in it,

Trump said cryptocurrencies “look like a scam.” He noted that when he was president, bitcoin was only $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 the dollar to be the currency of the world. That’s what I always say.

The former US president also spoke about bitcoin in response to questions regarding recent cyberattacks against major corporations.

Stressing several times during the interview that “the currency has to be dollars,” he explained that “when you have stuff like that out there, you know what’s going on, you’re really missing something.” He added:

Dollars are very important at this time and I want them to be the world currency

Trump repeated, “My opinion is that the currency of this world should be dollars, and I don’t think we should have all the world’s bitcoins out there,” elaborated: “I think they should regulate it very, very strictly.”

Trump has never been a fan of bitcoin. In July 2022, while he was still president of the United States, he commented on bitcoin and cryptocurrencies in general in a series of tweets:

I’m not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile. Unregulated crypto assets can facilitate unlawful 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’ will have little standing or dependency.

If Facebook and other companies want to become banks, they will have to seek new banking charters and comply with all banking regulations, just like any other bank, both national and international.”

Trump ended his series of tweets with: “We only have one real currency in the US, and it is stronger than ever, reliable and reliable. It is by far the most dominant currency anywhere in the World, and will always remain so. It’s called the United States dollar.”

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