Trump calls Bitcoin a scam, advocates for dollar hegemony

Former U.S. President Donald Trump says he does not like bitcoin because it is a currency that competes with the dollar, which he wants to be the currency of the world. He calls bitcoin a scam and wants cryptocurrency to be very heavily regulated. Trump Thinks Bitcoin Is a Scam, Wants Heavy Regulation on Crypto Donald Trump talked about bitcoin in an interview with Fox Business Monday. Responding to a comment that he does not like bitcoin and he would not invest in it, Trump said the cryptocurrency “seems like a scam.” He noted that when he was president, the price of bitcoin....

Former US President Donald Trump claims that he dislikes bitcoin because it is a competitor to the dollar, which he wants to be the world’s currency and urged US regulators to take action to monitor it. Trump Thinks Bitcoin Is A Scam Trump was asked about his opinion on cryptocurrency and the US stock market […]

History tells us that no international monetary system lasts forever. And as Barry Eichengreen, the leading thinker in this arena, has repeatedly reminded us, those systems tend to collapse very quickly, whether it was the dominance of Rome’s coins, the British pound’s status as the common unit of international trade, or the various periods in which the world aligned around the gold standard. The same will be true for the dollar’s unofficial status as the international reserve currency. Its hegemony will at some point disappear and, when it does, the fall will be swift as the world....

Bitcoin is likely gaining steam due to ongoing stimulus talks in the U.S. Reports indicate that President Trump wants politicians to agree on a stimulus deal larger than House Speaker Pelosi has pushed. The details on this latest development were scant. Whatever the case, analysts think this only accents Bitcoin’s value proposition. There is only 21 million Bitcoin that will ever be mined but theoretically, an infinite number of fiat dollars. President Trump Calls For […]

For all those who are casual market investors, rejoice! Bitcoin is back to its winning ways as the world’s leading free-market digital currency surges on Tuesday against a weakening US dollar due to recent commentary from President-elect Donald Trump. Trump: Dollar ‘Too Strong’. There are many potential factors in the value Bitcoin versus the dollar, the primary one being the value of the dollar itself, which is usually very stable and strong, being the global reserve currency. However, with Donald Trump ready to assume the position of the most powerful man on Earth in just three days, his....