Former US President Donald Trump Thinks Bitcoin Is 'A Scam'

Former President Donald Trump said that Bitcoin BTC/USD "seems like a scam," causing BTC price downfall.

What Happened: Talking to a Fox Business reporter today, Trump called Bitcoin a “scam against the dollar,” mentioning that the United States regulators should act upon it.

He suggested that cryptocurrencies merit a "very, very high" degree of monitoring and regulation.

“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,” added Trump.

Price Action: According to CoinMarketCap data, Bitcoin's price fell by over 2.5% and was trading at $35,442. The cryptocurrency also lost 3.33%i over the past week, with the lowest price of $35,041 seen on Sunday.

Image: Michael Vadon via Wikipedia

Market News and Data brought to you by Benzinga APIs

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Former US President Donald Trump Thinks Bitcoin Is 'A Scam'