Last Updated on June 7, 2021
President Donald Trump complained about Bitcoin during an interview on the Fox Business Channel on Monday, and went on to suggest that cryptocurrency should not exist and that the federal government should regulate crypto “very, very high” so that it can never compete against the U.S. dollar.
“Bitcoin just seems like a scam,” Trump told FOX Business Channel’s Stuart Varney. “I was surprised – with us, it was $6,000 and much lower. I don’t like it because it’s another currency competing against the dollar. Essentially, it’s a currency competing against a dollar. I want the dollar to be the currency of the world. That’s what I’ve always said.”
“The currency of this world should be the dollar, and I don’t think we should have all of the bitcoins of the world out there,” Trump declared earlier in the interview. “I think they should regulate them very, very high, but the currency should be the dollar. And when you have things like that out there, you know what happens is, you really lose something, it takes the edge off of the dollar and the importance of the dollar.”
President Trump has a history of lashing out against cryptocurrency. “Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity,” he wrote on Twitter in 2019.
The President’s comments came several days after a Bitcoin conference where journalist Laura Loomer confronted Twitter CEO Jack Dorsey about tech censorship.
Twitter CEO Jack Dorsey was confronted by journalist Laura Loomer on the issue of Twitter’s rampant censorship policies during a Bitcoin conference on Friday. Video footage of the heated exchange quickly went viral on several platforms, including Twitter.
“Censorship is a human rights violation, you are censoring people, you are interfering in elections,” Loomer yelled at Dorsey, who appeared to be sporting a very dark tan. Loomer’s remarks drew cheers and applause from the crowd, with one man yelling “Why did you deplatform her?” in regard to Loomer’s own suspension from the platform.“I just stormed the stage of the Bitcoin2021 conference to confront Jack Dorsey about his hypocrisy regarding censorship and decentralization,” Loomer wrote on her Telegram channel. “After I confronted him, I was removed from the conference. How can the King of Censorship and the tech tyrant himself possibly speak about decentralization and human rights? He’s a hypocrite.”