Donald Trump Bitcoin Bash Sends BTC Prices Lower

Former president Donald Trump is back in the news thanks to an interview on Fox News in which he weighed in on his feelings toward Bitcoin (CCC:BTC-USD) — and digital currency as a whole. The Donald Trump Bitcoin bashing takes a unique bearish angle on the asset class. It’s not doing the same damage to Bitcoin prices as Elon Musk’s tweet. But, the comments offer support to widespread feelings about the unregulated crypto market.

Photo of Donald Trump standing at a podium with the American flag in the background

Source: Andrew Cline / Shutterstock.com

So what do you need to know about the Trump Bitcoin news?

In a brief moment during an interview, Stu Varney asked Trump for his opinions on Bitcoin specifically, while asking him whether he is invested in it or invested in the stock market.

Trump stated that he does not have stakes in either market. Saying that Bitcoin prices are too high, Trump added that “it just seems like a scam.”

Donald Trump Bitcoin Slander: A New Take on Old Feelings

Calling Bitcoin a “scam” is a pretty broad accusation. However, it’s not necessarily far off base from the government’s current fears of digital currency. The U.S. Securities and Exchange Commission has made clear its fears that crypto is a path to white-collar crimes like money laundering, and President Joe Biden is taking pains to see the asset class regulated in one form or another.

Trump’s feelings are not new. Back in the former president’s days on Twitter, he took aim at the crypto market, attacking Facebook’s (NASDAQ:FB) still-ongoing attempt to create a stablecoin.

Just a hop, skip and a jump away from Trump’s Mar-A-Lago headquarters, Bitcoin 2021 took place this weekend in Miami. The largest cryptocurrency conference is also one of the most bizarre, and it brought us some of the best weekend entertainment. It also is offering investors assurance that the evolution of the currency is still a priority.

On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2021/06/donald-trump-bitcoin-bash-sends-btc-prices-lower/.

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