Former President Donald Trump called Bitcoin a “scam against the dollar” and urged US regulators to take steps to monitor it.
During an interview with Stuart Varney on Fox Business Network, Trump was asked what he thought about cryptocurrency and the US stock market. “Bitcoin, it just looks like a scam”Trump said.
“I don’t like it because it’s another currency that competes against the dollar,” Trump continued. “I want the dollar to be the currency of the world,” he concluded.
Trump had already spoken out against cryptocurrencies, but it had been in the context of one of his many controversies, in this case, against Facebook. Mark Zuckerberg’s company had announced in 2019 that he would develop his own.
In posts on his now-deleted Twitter account, Trump had attacked Bitcoin and other cryptocurrencies such as “highly volatile” in July 2019, and had added that he was not “a fan” of them.
“Unregulated crypto assets can facilitate illegal behavior, including drug trafficking and other illegal activities,” he stated at the time.
Trump talks about his return
Trump, banned from social networks. (Photo: Reuters)
Meanwhile, Trump also responded to Facebook and spoke of his return: “The next time I am in the White House I will not celebrate the dinners that he and his wife used to ask me. We will only talk about business,” Trump said through a statement over the weekend.
Likewise, Trump called the suspension an “insult” for those who voted for him during the “rigged elections” of November last year, in a repeat of his unfounded theory of electoral fraud.
“They must not be allowed to get away with this censorship and silence.”added the former president in the note.
Trump was suspended from both Facebook and Instagram after the company’s content advisory council temporarily canceled his profiles on these social networks, considering that he was responsible for the January 6 violence episodes in the Capitol.
Facebook, which also owns Instagram, explained last Friday that Trump will be able to reactivate their profiles from January 2023, after analyzing the company to verify if their presence on said networks continues to put public safety at risk.
The impact on the price of bitcoin
Dogecoin and Bitcoin. Reuters photo
Bitcoin’s price dropped slightly when news of the former president’s comments hit social media Monday morning and it was below 33 thousand dollars.
The former president’s comments followed a conference hosted by Bitcoin supporters in Miami, Florida over the weekend, videos of which hit Twitter as the event turned into chaos when a supporter of rival currency Dogecoin burst onto the stage and was withdrawn for security.
Bitcoin fell to $ 32,500, at January levels, after the seizure by the US Justice of part of the ransom paid by Colonial Pipeline, the operator of the pipeline hacked last month, which was paid in this cryptocurrency.