Trump slams Bitcoin, thinks it could be “a scam”
BTC Peers
Published Jun 09, 2021 07:34AM ET
Updated Jun 09, 2021 08:00AM ET
Trump slams Bitcoin, thinks it could be “a scam”
Former U.S. President Donald Trump has no intention to invest in Bitcoin. According to him, the leading cryptocurrency “seems like a scam” that is threatening the dominance of the U.S. dollar.
In a Monday interview with Fox Business, Trump was quizzed on his plans to invest in the leading cryptocurrency. In response, he disclosed that he hadn’t invested in Bitcoin because it ‘just seems like a scam,’ adding that “it’s another currency competing against the dollar.”
The news does not come as a surprise. Back in 2019, Trump in a widely-shared tweet expressed his disapproval for cryptocurrencies when he said that they are “not money” and their value is “highly volatile and based on thin air.”
Meanwhile, the current president of the United States, Joe Biden, has not explicitly called out Bitcoin or cryptocurrencies. However, it appears that the Treasury is taking steps to tax the asset class. In May, the Internal Revenue Service (IRS) presented a proposal that would require crypto investors to report all transfers worth over $10,000.
In his interview with Fox Business, Trump said that he wanted the dollar to be “the currency of the world.” Ironically, while the U.S. is still trying to make up its mind on what to do with cryptocurrencies, El Salvador has taken the lead and is pushing to make Bitcoin a legal tender in the country.
Continue reading on BTC Peers
Get The News You Want
Written By: BTC Peers
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.