Former US President Donald Trump: Bitcoin Looks Like a Scam

Former US President Donald Trump: Bitcoin Looks Like a Scam

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.

  • 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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