Cryptocurrencies have fallen since the comments from the former US President, as the cryptocurrency markets continue their downward spiral.
Bitcoin’s plunged by eight percent from $35,474 at 7.30pm on Monday to $32,585 at 5.30am this morning (Tuesday).
Ethereum dropped by nine percent from $2,710 to $2,466, while Dogecoin fell by the same percentage margin from $0.355 to $0.322.
Mr Trump had told Fox Business that he sees Bitcoin as a “scam” affecting the value of the US dollar.
He said: “Bitcoin, it just seems like a scam.
“I don’t like it because it’s another currency competing against the dollar.”
The former US President added he wanted the dollar to be the “currency of the world”.
Mr Trump has previously spoken out against Bitcoin, which has a tendency to fluctuate wildly when leading figures comment on it.
In 2019, the cryptocurrency plunged by around $20,000 after he said he was “not a fan” of it and rival digital currencies.
In a post on Twitter, from which he has now been banned, the former US President claimed crypto assets could “facilitate unlawful behavior, including drug trade and other illegal activity”.
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