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Donald Trump Shares Views On Crypto: "They May Be Fake"

Donald Trump Shares Views On Crypto: "They May Be Fake"

During an interview with Fox Business “Varney & Co.” the controversial ex-president Donald Trump once again shared his views on cryptocurrency, speaking less than favourably on the digital assets.

Trump had previously shared his views on cryptocurrency, stating last June that he was wary of Bitcoin because of the threat it posed to the Dollar. The businessman and ex-president stated that he viewed Bitcoin as a scam:

“Bitcoin just seems like a scam…I don’t like it because it is another currency competing against the dollar. Essentially it’s a currency competing against the dollar.  I want the dollar to be the currency of the world, that is what I have always said.

Most recently, when asked if he (Trump) ever “dabbles in Bitcoin or cryptos”, Trump replied:

“I don't. I like the currency of the United States. I think the others are potentially a disaster waiting to happen. I feel that it hurts the United States currency. I think we should be invested in our currency. They may be fake [...] who knows what they are, they certainly are something that people don’t know very much about. I have not been a big fan.”

Trump’s dislike for crypto is not new, in various interviews he has emphasized that the dollar should be the currency of the world. In June following an interview in which he strongly put forward his dislike of Bitcoin, the price fell by 1.3%. And with the president’s fondness of Twitter rants, his views on Bitcoin and cryptocurrencies in general have been expressed via a number of tweets.

While Trump may be one of the more vocal Presidents when it comes to sharing his personal views, President Bukele of El Salvador has been markedly more outspoken when it comes to crypto.

With El Salvador due to implement their new Bitcoin Law, which would make Bitcoin legal tender in the country, Bukele has faced some criticism for his fast-tracking legal approval of the new legislation. Unlike Trump, Bukele is bullish on Bitcoin, stating in a number of interviews that it would boost jobs and economic development in the Latin American nation.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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