Press "Enter" to skip to content

Former President Donald Trump “Bitcoin is a currency that competes with the dollar”

Cryptocurrency

Former President Trump mentions Bitcoin

Former US President Donald Trump said on the 7th that Bitcoin (BTC) seems to be a fraud.

Bitcoin previously said that there was a time when it was much cheaper than $ 6,000, and in April it surpassed $ 60,000 and hit a record high for Bitcoin. I don’t like it because it seems to be a currency that competes with the US dollar. ” Bitcoin is an influence on the US dollar and its importance and should be tightly regulated, he said. As before, he argued that the US dollar should be the currency of the world and has shown a negative view on Bitcoin.

Watch the latest video at foxbusiness.com

When Mr. Trump responded to a Fox Business interview over the phone, the interviewer finally asked him what he thought of Bitcoin and asked if he would invest. The above content is the remark at that time.

Mr. Trump has shown a negative view of crypto assets (virtual currency) since he took office. In 2019, he mentioned on Twitter the stable coin “Diem (formerly Libra)”, which is being developed by virtual currencies such as Bitcoin and Facebook. He expressed concern about regulatory issues and the potential to foster illegal activity, claiming that the US dollar was the only real currency at the time.

Relation: US President Donald Trump criticizes Bitcoin (BTC) and Facebook’s Libra

It seems that this interview does not elaborate on why it seems to be a scam, but in a tweet in 2019, it is said that cryptocurrencies are “price is unstable, not money, and there is no evidence of asset value”. Claim. “Unregulated cryptocurrencies can encourage antisocial activities such as drug trafficking and illegal trade,” he said.

U.S. cryptocurrency regulation

Currently, the United States has begun to develop regulations on virtual currencies with the birth of a new administration on behalf of President Biden.

Late last month, it was discovered that the Biden administration had held multiple meetings to discuss the issues of cryptocurrency regulation. It is investigating whether virtual currencies are being used for illegal activities and terrorist financing, and whether rules to protect general individual investors are necessary.

Relation: U.S. Biden administration discusses issues with current cryptocurrency regulation?

Also this month, as part of its defense against ransomware attacks, it was revealed that it intends to step up its analysis and investigation into cryptocurrencies to track criminal transactions. Later, most of the ransom was successfully recovered. (The 8th)

Colonial Pipeline, which operates an oil pipeline, and JBS, a major meat processing company, have been suffering from ransomware attacks, and they have shown their willingness to pay close attention to virtual currencies, which are increasingly used to pay ransom. ..

Relation: “Successful recovery of most of Bitcoin ransom” Cyber ​​attack case of US pipeline ── US Department of Justice

N https://imgs.coinpost-ext.com/uploads/2019/07/Donald-Trump-1-e1562899367245.jpg->

Author: K. Kobayashi
Reference: Fox Business

Images used under Shutterstock license
“Cryptocurrency” means “cryptographic assets”

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.