The former and potentially future president’s opinion of Bitcoin hasn’t changed since he said BTC is “based on thin air.”
Former U.S. president Donald Trump has doubled down on his 2019 criticism of cryptocurrency.
In June, Trump called for Bitcoin to be regulated “very, very high,” Fox News noted.
The ex-president added: "Who knows what they are, but they certainly are something that people don’t know very much about.”
In July 2019, Trump said on his now-deleted Twitter account that he was “not a fan of Bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air.”
He added, “I like the currency of the United States,” saying that the U.S. dollar is the only “real currency in the USA.”
Bad for the Buck
Trump’s recent comments focused on current concerns that cryptocurrencies such as stablecoins could weaken the position of the U.S. dollar as the world’s de facto reserve currency. That status gives the U.S. government a great deal of economic clout.
Trump warned that investing in cryptocurrencies is bad for the U.S. as it "hurts the United States currency.”
Sharing that data would make it far easier for U.S. tax and law enforcement agencies to get reciprocal information from other countries.