Former US President, Donald Trump declares Bitcoin 'a scam' |SEE REASONS
Afnews Editor
Jun 08, 2021
Former United States President Donald Trump says he considers Bitcoin as a "scamÔÇØ.
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"Bitcoin, it just seems like a scam. I don't like it because it's another currency competing against the dollarÔÇØ, he told Fox Business.
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The 45th American leader noted that he wanted the dollar to be "the currency of the worldÔÇØ.
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Trump's reaction followed reports that El Salvador plans to make the crypto-currency a legal tender.
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Bitcoin has been on a free fall since May, raising concerns among investors in Nigeria and many other countries.
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Also last month, China warned financial institutions against offering cryptocurrency services. Federal authorities issued a joint statement.
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The National Internet Finance Association of China, the China Banking Association, and the Payment and Clearing Association of China warned that crypto has no real value.
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The regulators added that the price can be easily manipulated and advised banks to avoid digital currency transactions of face serious sanctions.
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— Afnews Editor