Donald trump thinks Bitcoin is modern-day fool’s gold – calling it bad for the dollar, which seriously makes it look like a boomer stuck in the 20th century.
The ex-Prez took to “FOX Business” early Monday morning to talk about stocks, the market, the economy … and for the sake of relevance, crypto too – which always comes down to Bitcoin, the proverbial king of all.
It’s not royal for Trump, though … just a royal pain in the ass.
He told the host Stuart varney he considers Bitcoin to be a good old-fashioned scam… noting that when he looked at it himself, it was as low as $ 6,000 per pop. It’s much higher than that now, hovering around $ 36,000 for a Bitcoin – and recently hit $ 61,000.
Don isn’t the only one who doubts Bitcoin – and, more importantly, its reliability – but his reasoning is quite strange. Look … he attributes his hesitation to America First, or rather the dollar first.
DT claims that Bitcoin is just another currency that competes with the dollar and that he wants traditional greenbacks to be king in the trading world. So in other words, he sees Bitcoin as a foreign enemy – very much on the mark.
What’s rich here is that Bitcoin’s charge against the dollar is classic capitalism … something Trump himself advocates, not just as a businessman, but as a Republican.
As to whether Trump’s words impacted the price of Bitcoin, it’s hard to say. The value fell drastically on Monday morning (just as Trump said this), but has collapsed lately, so it’s hard to measure whether it’s been rebounded by the Trump effect.