Former US President Donald Trump: Bitcoin Looks Like a Scam

Forum 3 years ago

Former US President Donald Trump: Bitcoin Looks Like a Scam

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

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.

Donald 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