donald trump on bitcoin: Former US President Donald Trump refers to bitcoin as scam

donald trump on bitcoin: Former US President Donald Trump refers to bitcoin as scam

Highlights:

  • Former US President Donald Trump called Bitcoin a scam
  • Trump said that he does not like the fact that any currency should compete with the dollar
  • Meanwhile, El Salvador decided to make bitcoin the official currency.
  • Bitcoin price fell 10.05 percent to $32065.61

New Delhi
Nothing is going well for Bitcoin, the world’s largest, oldest and most popular cryptocurrency. Former US President Donald Trump has called it a scam. At the same time, he called this cryptocurrency a threat to the dollar. He said that he does not like the fact that any currency is competing with the dollar.

Trump said in an interview with Fox Business Network, ‘Bitcoin is like a scam. I don’t like it because it is banging the dollar. I want the dollar to become the world’s currency. That’s what I’ve always said.’ Earlier, the President of El Salvador, Nayib Bukele had decided to make bitcoin the official currency. In this way, El Salvador became the first country in the world to adopt a digital currency. Economists and experts from the International Monetary Fund (IMF) have expressed concern over this decision.

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how much has the price fallen
On Tuesday, the price of bitcoin fell 10.05 percent to $32065.61. Experts say that bitcoin could come down to $30,000. In April, the price of bitcoin reached around $65,000. But after this, Tesla’s billionaire CEO Elon Musk’s statements led to a fall in its price. Then the tough attitude in China did the right thing.

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