Donald Trump, former United States President, is back again, this time calling BTC a scam.
On Monday, Donald called into Fox Business TV program by Stuart Varney to comment on various topics, including criticizing Facebook for forbidding him for two more years.
At the ending, Varney asked the former president about digital coins. He asked him whether he can invest in BTC. In response, Trump declared that Bitcoin seems like a scam competing with the US dollar. He said that he wants the dollar to rule the world’s economy.
Do you think that Bitcoin is a scam? Well, firstly, lets us assume Varney asked about Bitcoin due to Miami’s irrational enthusiasm during the weekend. You probably know that Bitcoin SV remains the only contract that is true according to the first vision of P2P digital currency described during the launch in 2008. That means BSV is the real Bitcoin.
With that, some market players will commend Donald Trump acknowledging that Bitcoin is not legit. Things like high transaction charges have made some business experts see the virtual coin as useless and cannot act like the real currency. That led to the frantic narrative referring to Bitcoin as digital gold. That is because an individual can purchase and never sell.
Meanwhile, Trump complained about BTC competing against the US dollar. In reality, Bitcoin competes against financial hedges like real estate and precious metals, acting as a store of wealth. However, BTC wild fluctuation makes it unreliable as a store of wealth. That makes it challenging to convince critics that Bitcoin is not a scam.
Keep in mind that Donald has never been that concerned about the dollar’s fate. For example, in his 2016 presidential companies, the ex-president bragged as the best leader in debts. The resulting panic in the entire financial markets had Donald’s advisers clarify that the former leader did not mean his words. So, Trump is not the final say on sound monetary policy deals.
Do you think that Donald Trump is right to call BTC a scam? Feel free to comment your thoughts below.
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