Donald Trump wants the dollar to be the currency of the world and detests the idea of BTC and other cryptocurrency.
It was in an interview with Fox Business earlier this week that the former U.S. President openly spoke about his detest for the popular and highly praised digital currency. When asked about him not being a fan of or even interested in investing in Bitcoin, he blatantly said “cryptocurrency seems like a scam.”
Wants the Dollar to Be the Currency of the World
The fact that the price of BTC was only $6,000 during his presidency, Trump motivated his disgust by saying:
“I don’t like it because it’s another currency competing against the dollar, essentially it’s a currency competing against a dollar. I want the dollar to be the currency of the world. That’s what I have always said.”
Trump went even further, explaining his reasoning. “My opinion is that the currency of this world should be the dollar, and I don’t think we should have all of the Bitcoins of the world out there. I think they should regulate them very, very high.”
Simply Not a Fan
Notorious for his many opinionated tweets while occupying the White House, this latest interview is far from the first time Trump has commented on cryptocurrency.
Back in July 2019, he shared his opinion on the matter in a series of tweets:
“I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated crypto assets can facilitate unlawful behavior, including drug trade and other illegal activity.”
Become Subject to Tough Regulations or Else
As Facebook also proposes its own little crypto project, Trump is asking them to be held to a lot higher standards, saying:
“If Facebook and other companies want to become a bank, they must seek a new banking charter and become subject to all banking regulations, just like other banks, both national and international.”
The Most Dominant Currency in the World
There’s only one currency you should focus on if you ask him and surprise, surprise, it’s the U.S. dollar.
“We have only one real currency in the USA, and it is stronger than ever, both dependable and reliable. It is by far the most dominant currency anywhere in the World, and it will always stay that way. It is called the United States dollar.”
Whether Trump will be the one getting the last laugh or will the dollar have to accept cryptocurrency taking a bigger and bigger piece of the currency cake remains to be seen.