Former US President Donald Trump considers Bitcoin a “fraud”

That said the former President Donald Trump Bitcoin (CRYPTO: BTC) “appears to be a scam” resulting in a drop in the price of BTC.

What happened: Speaking to a Fox Business reporter today, Trump described Bitcoin as a “scam against the dollar” and mentioned that US regulators should act accordingly.

Former President Trump: “Bitcoin, it just seems to be a scam. I do not like it. I want the dollar to be the world’s currency. ”Pic.twitter.com/y3e3CgKnOe

– Alex Salvi (@alexsalvinews) June 7, 2021

He suggested that cryptocurrencies deserve a “very, very high” level of surveillance and regulation.

“Bitcoin, it just seems like a scam. […] I don’t like it because it’s another currency that competes with the dollar … I want the dollar to be the currency of the world. I’ve always said that, “added Trump.

Also read: U.S. Senator Cynthia Lummis asks followers to share Bitcoin success stories after the cryptocurrency was publicly endorsed

Price action: According to CoinMarketCap data, the price of Bitcoin fell over 2.5% and was trading at $ 35,442. The cryptocurrency also lost 3.33% i last week, with the lowest price hitting $ 35,041 on Sunday.

Image: Michael Vadon via Wikipedia

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