Bitcoin price falls again after Trump said it "looks like a scam"

Former US President Donald Trump says he doesn't like bitcoin because it's a competitor to the dollar, which wants to be the world's currency and has urged US regulators to take action to monitor it.

Trump thinks Bitcoin is a scam

Trump was asked about his opinion on cryptocurrency and the US stock market during an interview with Stuart Varney on Fox Business Network, which the former president also said he wanted to avoid. Trump said:

“Bitcoin, it just looks like a scam. I don't like it because it's another currency competing with the dollar ”.

Trump reiterated, "My opinion is that the currency of this world should be the dollar, and I don't think we should have all the world's bitcoins out there," elaborating, "I think they should regulate it very, very seriously."

The former president also spoke about Libra, a cryptocurrency owned by social media giant Facebook. Diem is the new name of Libra. According to Trump's tweet, Facebook's "virtual currency" Libra will have little reputation or reliability. If Facebook and other companies want to become a bank, they have to look for a new bank card and be subject to all banking regulations, just like other banks, both national and international. "

Trump concluded his series of tweets with: “We only have one real currency in the United States, and it is stronger than ever, reliable and secure. It is by far the most dominant currency in the world and will always remain so. It is called the United States dollar ”.

Trump's comments appeared to drive a drop in Bitcoin's value (quotation in real time) as its price fell more than 1,3% (from $ 36.472 to $ 35.973) in the hour following the interview.

It's not the first time

This isn't the first time Trump has expressed a negative opinion on Bitcoin. The price of the cryptocurrency dropped by around $ 10.000 in 2019 after the then president said he was not a "fan of Bitcoin and other cryptocurrencies." Former Trump administration national security adviser John Bolton also said on Monday that the former president "on several occasions" spoke to Treasury Secretary Steve Mnuchin about the cryptocurrency ban.

In posts on his Twitter account, which has now been deleted, Trump attacked Bitcoin and other cryptocurrencies as "highly volatile" in July 2019, adding that "he was not a fan of them."

"Unregulated cryptocurrencies can facilitate illicit behavior, including drug trading and other illegal activities," he added at the time.

The former president's remarks came after a conference sponsored by Bitcoin supporters in Miami, Florida over the weekend, with videos of the event going viral after a fan of Dogecoin currency, competing with the world's first cryptocurrency. , attacked the stage and was taken away by security.