Trump launches attack on Bitcoin as ‘scam against the dollar’

Trump launches attack on Bitcoin as ‘scam against the dollar’
Former President Donald Trump called Bitcoin a “scam against the dollar” and urged US regulators to take action to monitor it on Monday.

Former President Donald Trump called Bitcoin a “scam against the dollar” and urged US regulators to take action to monitor it on Monday.

During an interview with Stuart Varney on the Fox Business Network, Trump was asked about his thoughts on cryptocurrency and the US stock market, which the ex-president said he was avoiding currently as well.

“Bitcoin, it just seems like a scam,” Mr Trump said.

“I don’t like it because it’s another currency competing against the dollar,” Mr Trump continued. “I want the dollar to be the currency of the world.”

The comments are some of the harshest from a US official about cryptocurrency and its viability as an alternative to standard currency, though the former president made similar dismissive comments about Bitcoin and efforts from Facebook to develop its own cryptocurrency in 2019.

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