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Donald Trump Detests Bitcoin, Calls BTC a Scam, Wants Heavy Crypto Regulation

Crypto News , Cryptocurrency News , Bitcoin News Today , Altcoin News

Previous U.S. President Donald Trump says he doesn't care for bitcoin on the grounds that it is a money that contends with the dollar, which he needs to be the cash of the world. He calls bitcoin a trick and needs cryptographic money to be vigorously managed. 


Trump Thinks Bitcoin Is a Scam, Wants Heavy Regulation on Crypto 


Donald Trump discussed bitcoin in a meeting with Fox Business Monday. Reacting to a remark that he doesn't care for bitcoin and he would not put resources into it, Trump said the digital currency "appears to be a trick." He noticed that when he was president, the cost of bitcoin was just $6,000, much lower than it is presently, adding: 


I don't care for it since it's another cash contending with the dollar, basically it's a money going up against a dollar. I need the dollar to be the cash of the world. That is the thing that I have consistently said. 


The previous U.S. president likewise discussed bitcoin in light of inquiries in regards to late cyberattacks on significant organizations. 


Accentuating a few times during the meeting that "the cash ought to be the dollar," he clarified that "when you have things like that out there, you realize what happens is, you truly lose something." He added: 


It removes the edge from the dollar and the significance of the dollar. 


Trump repeated, "My assessment is that the cash of this world ought to be the dollar, and I don't figure we ought to have the entirety of the bitcoins of the world out there," expounding: "I figure they ought to direct them incredibly, high." 


Trump has never been an aficionado of bitcoin. In July 2019, when he was as yet the leader of the United States, he remarked about bitcoin and cryptographic forms of money overall in a progression of tweets: 


I'm not an enthusiast of bitcoin and other digital currencies, which are not cash, and whose worth is profoundly unpredictable and dependent on slender air. Unregulated crypto resources can work with unlawful conduct, including drug exchange and other criminal behavior. 


The previous president additionally focused on Libra, the crypto project proposed by web-based media monster Facebook. Libra is currently called Diem. Trump's tweet says: "Facebook Libra's 'virtual money' will have minimal standing or trustworthiness. On the off chance that Facebook and different organizations need to turn into a bank, they should look for another financial sanction and become subject to all financial guidelines, actually like different banks, both public and worldwide." 


Trump finished up his arrangement of tweets with: "We have just a single genuine cash in the USA, and it is more grounded than any time in recent memory, both trustworthy and solid. It is by a wide margin the most prevailing cash anyplace in the World, and it will consistently remain as such. It is known as the United States dollar." 


What's your opinion on Trump's remarks on bitcoin and the U.S. dollar? Tell us in the remarks segment beneath.

JUNE 07, 2021