Trump stamps down Bitcoin price with Fox News rant

Category: Americas Crypto

Donald Trump expressed severe disapproval of El Salvador’s Bitcoin adoption on Fox News, causing another price dive

TrumpOrange“Bitcoin, it just seems like a scam,” former US president Donald Trump said during an appearance on Fox Business on the evening of June 7, in reaction to El Salvador adopting Bitcoin as a legal tender.

The Central American state had formerly only used the US-Dollar and will now implement the use of Bitcoin side-by-side in order to fight the black market and increase financial equality among demographics with varying access to banks, as was reported on AIBC News. Apparently, the announcement of Salvadoran president Bukele in Miami hit too close to home. Tump stated the following shortly after:

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.

If it were to the former host of The Apprentice, the crypto would be much more regulated. Even when he was in office, Trump expressed discontent on his Twitter account, now banned due to instigation of violence, stating he were “not a fan”. His maintained media potency sent the Bitcoin price down the drain just shortly after the appearance, despite several Latin American countries considering similar steps as El Salvador, including Brazil and Argentina.

Bitcoin had already suffered a great price dip in May after Chinese regulations had severely increased and Tesla had withdrawn services using the crypto due to environmental concerns.

Next up: Malta Week

Don’t miss out on amazing networking opportunities and exclusive industry insights at Malta Week. Four leading shows will bring the best of the business back-to-back to a first-class meeting point. Malta Week will consist of events of SiGMAAIBCMed-Tech World and AGS, each presenting the top developments of their focal industries.

The cross-collaboration of each brand make Malta Week the number one destination for leading think-tanks of the gaming sector, emerging tech, digital health and digital marketing. The middle of the Mediterranean is the perfect place for multi-faceted business deals and face-to-face conversations with leading affiliates, policy makers and thought leaders.

Budapest, Hungary event


Budapest, Hungary

02 - 04 September 2024