The former US President, Donald Trump, on Monday continued to attack cryptos verbally. According to him, bitcoin is a “scam against the dollar.” He told this at a LIVE televised Fox Business interview on the 7th of June.
Trump has suggested that the US regulators should take action to regulate bitcoin as a token that is making a strong competition with the US dollar. He has always wanted the US dollar to become the currency of the world.
Trump continued saying that he does not like the limelight bitcoin is getting. According to the ex-US Commander in chief, “the currency of this world should be the dollar.”
Shortly after this negative rhetoric, the price of this cryptocurrency, bitcoin, managed to slump by 8%. Its price is now nearly $32913.33 as per the Coindesk data.
Varney also asked, “do you invest in the stock market at this moment?” Trump admitted saying that he has not traded on this stock market. However, he has made investments in the past as it has currently been sitting near too high.
This discussion came about after the host made Trump know about the latest series of ransomware attacks on US corporations.
It also includes the Colonial Pipeline Co., which is further adding that the Russian Black-Hat hackers had made a demand of the full ransom payment in bitcoin.
As it is perceived, the decentralized bitcoin is pretty hard to trace because it has anonymity. This has enabled the hackers to remain completely nontraceable. Thus, Trump thinks that the government’s regulation against digital tokens must be very high.
This is not the first time when the Former US President is commenting on bitcoin. He previously also wrote on Twitter that he is not a fan of bitcoin and other cryptos, which are volatile and based on thin air. He further lambasted the crypto project, known as Diem. According to him, these firms must seek a banking charter that shall be subjected to global regulations.
Hence Trump said, “If Facebook and other companies want to become a bank, they must seek a new Banking Charter and become subject to all Banking Regulations, just like other Banks, both National and International.”