Thursday, September 23

Bitcoin (BTC) Criticism from Donald Trump

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trump bitcoin

Former US President Donald Trump reiterated his anti-crypto stance in an interview with Stuart Varney of Fox Business today, describing Bitcoin as a “fraud”:

“Bitcoin looks like a scam. You know, in our time it was $6000 (much lower). I don’t like it because BTC is another currency that competes with the dollar.”

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Trump also claimed that the US dollar should be the world’s currency:

“In my opinion the currency of the world should be the dollar and I don’t think we should have all the Bitcoins in the world.”

“High Level of Regulation Required”

Trump has called for more regulation of cryptocurrencies:

“I think they need to be regulated at a very, very high level for these.”

This isn’t the former president’s first criticism of cryptocurrencies. In July 2019, Trump tweeted that he is not a fan of Bitcoin, while also criticizing the Facebook-linked Libra cryptocurrency project. According to a book by former National Security Advisor John Bolton, Trump also personally told former Treasury Secretary Steven Mnuchin to go after Bitcoin.

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