Donald Trump, the former president of the United States, has once again lashed out at cryptocurrencies, calling them a disaster that is negatively affecting the U.S. dollar.
The former president aired his grievances against crypto in an interview with Fox Business’ Stuart Varney, when asked about his opinion on the assets.
Trump Tips the Dollar Over Bitcoin
According to Trump, cryptocurrencies are a “disaster waiting to happen,” as he reiterates his support for the U.S. dollars.
“I like the currency of the United States,” adding that residents of the United States should invest in the dollar rather than cryptocurrencies.
The 45th president of the U.S. noted that he has never been a fan of Bitcoin or any other cryptocurrencies, and that he has never invested in them.
According to Trump, people do not have substantial knowledge about cryptocurrencies. Since cryptocurrencies are relatively new compared to other financial instruments, the Republican party member believed that they may be fake as nobody seems to know what they are.
Trump Continues Scrutinizing Bitcoin
This is not the first time that the former U.S. president has openly criticized cryptocurrencies.
Back in June, Trump expressed his hatred for Bitcoin because the most popular cryptocurrency is posing a serious competition against the dollar.
For Trump, Bitcoin is a scam that has become increasingly popular in competing against the dollar.
He also disclosed his displeasure with Bitcoin in 2019 during the time popular social media giant Facebook was battling with financial regulators in a bid to unveil its Libra cryptocurrency.
At the time, Trump stated that he had not been a supporter of cryptocurrencies and that he was backing the dollar to become the currency of the world.
Bitcoin Vs Dollar Debate Linger
The debate over which currency between Bitcoin and the dollar people should invest in has been a major topic of discussion in the financial space.
While financial regulators have kicked against Bitcoins on different occasions, cryptocurrency proponents have given people tons of reasons why they should adopt the assets.
Although financial regulators from different parts of the world are against Bitcoins, some countries have readjusted their stance on the cryptocurrency.
So far, Bitcoin seems to be on the winning side as El Salvador declared the cryptocurrency a legal tender, prompting other nations to consider making a similar move.
