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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.
Anthonia Isichei

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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.

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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
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About the author

Anthonia Isichei

Anthonia is a fintech writer who has been involved in the crypto space since 2017 covering developments across regulations, adoption, and several other aspects of the Industry. When not neck-deep in the crypto news cycle, Anthonia spends her free time globetrotting and playing video games.