Former controversial US President Donald Trump has described popular digital currency Bitcoin as a scam, especially because of its competition against the dollar.
He said this in an interview on Fox Business Network, sharing his opinion on cryptocurrency and the stock market in the US.
Trump said, about bitcoin, “Bitcoin, it just seems like a scam,” Trump said.
“I don’t like it because it’s another currency competing against the dollar.
“I want the dollar to be the currency of the world.”
Trump railed against cryptocurrency, as the President of El Salvador, Nayib Bukele, announced that bitcoin would become a legal tender in his country.
He said, “In the short term, this will generate jobs and help provide financial inclusion to thousands outside the formal economy.”
Trump holds, like many other critics of the cryptocurrency, that digital currencies were highly volatile and were unstable to rely on.
He had once shared, “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity.”