Donald Trump expressed severe disapproval of El Salvador’s Bitcoin adoption on Fox News, causing another price dive
“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Bitcoin had already suffered a great price dip in May after Chinese regulations had severely increased and Tesla had withdrawn services using the crypto due to environmental concerns.
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