Former US president Donald Trump has called cryptocurrency Bitcoin a “Scam”. During an interview with Stuart Varney on the Fox Business Network Trump expressed his thought on cryptocurrency.
Trump Said, “Bitcoin, it just seems like a Scam. I was surprised you know with us, it was at 6000 and much lower. I don’t like it because it’s another currency competing against the dollar.” He added that he wanted the dollar to be “the currency of the world. That’s what I’ve always said.”
His comment comes on the back of news El Salvador’s planning to make the bitcoin legal tender. Since early May, the price of Bitcoin is steadily falling and has not recovered yet.
The falls were widely attributed to Electric car manufacturer Tesla announcing it would no longer accept the currency as payment. As well as China banning banned banks and payment firms from providing services related to a crypto-currency transaction.
“I’m not a fan of Bitcoin and other cryptocurrencies which are not money and whose value is highly volatile and based on thin air,” Trump said at that time.