Former United States President Donald Trump on June 7 called the cryptocurrency Bitcoin a ‘scam’. He even stated that he dislikes bitcoin as it is another currency completing versus the dollar.
In an interview with Fox Business Network on Monday, Trump stated
Bitcoin, it just seems like a scam. 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.
The ex-US President’s remarks showed up a day after El Salvador’s President Nayib Bukele’s choice to officially adopt the digital currency as legal tender. This made El Salvador the very first nation worldwide to adopt digital currency. The decision set off issues amongst the financial experts and specialists in the International Monetary Fund (IMF).
On the other hand, Markets.com’s primary market expert Neil Wilson believes Bitcoin is certainly not a currency. According to him, to certify as a currency, Bitcoin should have a system of accountability, supply a great shop of worth and be a way of payment.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.