Trump dislikes BTC as we have already learned by far but this time he said that it seems like a scam and the price of the asset reacted immediately and dropped as we can see in our latest bitcoin news today.
Former US President Donald Trump dislikes BTC because it is a competitor to the dollar which he wants to become the world’s currency and even urged US regulators to take action and monitor it. Trump was asked about his opinion on crypto as well as the US Stock market in an interview with Stuart Varney where he stated that he was avoiding as well:
“Bitcoin, it just seems like a scam. I don’t like it because it’s another currency competing against the dollar. My opinion is that the currency of this world should be the dollar, and I don’t think we should have all of the bitcoins of the world out there. I think they should regulate them very, very high.”
The former president also singled out Libra which is crypto owned by social media giant Facebook and it changed the name to Diem. According to Trump’s tweet, Libra is a virtual currency that will have little standing or dependability and if Facebook and other companies want to become a bank, they will seek a new banking charter and become subject to the banking regulations like other banks, both national and international. Trump concluded:
“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.”
Trump’s comments appeared to dip in BTC value as its price dropped by over 1.3% one hour after the interview. This is not the first time Trump voiced a negative opinion about BTC with the price of the crypto fell by about $10,000 two years ago after the president said he was not a fan of BTC and other cryptocurrencies. Former Trump administration National Security Advisor John Bolton said that the ex-president on several occasions also spoke to Treasury Secretary Steve Mnuchin about outlawing crypto. Trump assailed BTC and other cryptocurrencies as highly volatile while adding that he was not a fan of them:
“Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.”
The former president’s remarks came after the conference in Miami about Bitcoin with videos of the event becoming viral.
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