Donald Trump says bitcoin 'seems like a scam' - and laments that it's competing with the US dollar

Donald Trump reiterated his negative stance on bitcoin during a Fox Business interview Monday.
The former president said bitcoin "seems like a scam" and he doesn't like that it takes the importance away from the US dollar.
Trump said the dollar should be the world's currency, and said bitcoin needs more regulation.
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Donald Trump doubled down on his negative stance on bitcoin on Monday and told Fox Business the cryptocurrency "seems like a scam" that takes away the importance of the US dollar.

The former US president told Fox Business' Stuart Varney: "Bitcoin, it just seems like a scam. I was surprised - you know, with us, it was at $6,000 and, much lower. I don't like it because it's another currency competing against the dollar, essentially it's a currency competing against the dollar."

Trump also said that the currency of the world should be the US dollar and called for regulations on bitcoin.

"I don't think we should have all of the bitcoins in the world out there. I think they should regulate them very very high, but the currency should be the dollar," he said.

In 2019, Trump slammed bitcoin and cryptocurrency in a twitter thread.

"I'm not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air," Trump said at the time.

Bitcoin traded slightly above $36,000 Monday morning.

Read the original article on Business Insider