Trump Is Trashing Bitcoin As ‘A Scam’ That Should Be Highly Regulated, Causing The Cryptocurrency’s Price To Plummet

If you’re a cryptocurrency investor and a fan of Donald Trump, you might want to sit down for this one. On Monday morning, the former president caused the price of Bitcoin to fall after criticizing the digital currency and demanding that it be extremely regulated to prevent it from competing with the U.S. dollar.

Trump made the remarks during a wide-ranging interview with Fox Business Network’s Varney & Co. where he flat out called Bitcoin a scam after being asked if he’d ever invest in crypto. “Bitcoin, it just seems like a scam,” Trump said. “I don’t like it because it’s another currency competing against the dollar … I want the dollar to be the currency of the world. That’s what I’ve always said.”

He also said that the government regulations on crypto should be “very very high.” Following the interview, Forbes reported that Bitcoin prices experienced yet another dip:

Trump’s comments appeared to drive a dip in Bitcoin’s value as its price fell by over 1.3% (from $36,472 to $35,973) in the hour after the interview.

Trump has voiced his concerns with Bitcoin before. In 2019, he revealed that he’s not a fan of cryptocurrency after it’s price fell roughly $10,000. It also marks a tumultuous time for Bitcoin, which recently saw Elon Musk announce he was “breaking up” with crypto. However, while Musk distancing himself from Bitcoin caused the price to dip, it also caused a run on semen-based coins because the crypto market will never not be weird as hell.

But while the run on ejaculatory-themed coins was funny at the time, Musk’s seeming manipulation of the Bitcoin market has put him in the crosshairs of Anonymous, which called out the Tesla CEO for his “clear disregard for the average working person.” This, in a way, puts Donald Trump and Anonymous on the same side? Have we mentioned crypto is weird?

(Via Fox News, Forbes)