Donald Trump still doesn’t like Bitcoin (BTC) and calls it a scam

Donald Trump still doesn’t like Bitcoin (BTC) and calls it a scam
фото показано с : invezz.com

2021-6-9 13:42

Donald Trump, the former US President, became the first president in US history to directly address cryptocurrencies during his time in office. Unfortunately, he revealed that he was not a fan. Now, even after leaving the office, it appears that the former President is still not done slamming Bitcoin (BTC/USD).

Trump appeared recently on FOX Business, stating that Bitcoin seems like a scam to him and that he doesn’t like it because it is another currency that competes against the US dollar. Trump, on the other hand, doesn’t plan to settle for anything other than USD becoming the currency of the world, and Bitcoin is a dangerous competition at this point.

TRUMP: Bitcoin, it just seems like a scam. I don't like it. I want the dollar to be the currency of the world. pic.twitter.com/CXjALsJmXx

— August Takala (@AugustTakala) June 7, 2021

Previously, however, when he slammed BTC in the summer of 2019, he said that his biggest concern is price volatility. He said that, because of it, Bitcoin value feels like thin air. In other words, while his stance towards BTC seems to be consistent, it might be possible that his reasons for disliking the world’s largest crypto have changed.

Trump’s anti-crypto stance was also mirrored by his entire administration, which aimed to bring as many anti-crypto policies as possible. There are even claims that Trump ordered Steve Mnuchin, the former Treasury Secretary, to go after BTC. As some may remember, the Treasury even attempted to bring regulations that would allow them insight into private wallets.

However, while the Trump administration is no longer in charge, the policy itself became further expanded by the currently acting Biden administration. Right now, the IRS is looking to close crypto-related tax loopholes. Meanwhile, the US officials also have a number of pro-crypto members among their ranks. Some examples include Sen. Cynthia Lummis, and Rep. Warren Davidson, who continue to push for privacy regarding crypto wallets.

In other words, the struggle for US crypto users is far from over, but they are not alone against the entire government. Right now, the crypto regulations seem to be focused towards ransomware due to a significant spike in ransomware attacks.

The post Donald Trump still doesn’t like Bitcoin (BTC) and calls it a scam appeared first on Invezz.

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