Donald Trump is not a ‘big fan’ of cryptocurrencies


Donald Trump is not a ‘big fan’ of cryptocurrencies
Donald Trump admitted that he is not a fan of cryptocurrencies. BRENDAN SMIALOWSKI/AFP via Getty Images

Former President Donald Trump lashed out at cryptocurrencies in an interview with Fox Business on Tuesday.

“I have not been a big fan of cryptos,” Trump said.

While the interview focused primarily on Trump’s reaction to America’s Afghanistan exit, he didn’t miss a chance to share his thoughts on the highly volatile digital asset class.

In June, the price of Bitcoin dropped after Trump called it a “scam.”

It wasn’t apparent that Tuesday’s comments by Trump had any effect on crypto prices.

His comments come just days after hedge fund star John Paulson slammed Bitcoin and other cryptocurrencies as essentially “worthless.”

Meanwhile, Eric Trump, the former president’s son and an executive vice president in the family company, underlined his father’s disdain for digital currency.

“Typically we have gravitated to tangible assets — something one can see and touch, that has replacement cost, that’s unique, iconic,” Eric Trump told The Post.

Even as prominent figures like Paulson and Trump diss the digital coin, the price of Bitcoin has jumped in recent weeks.

Last month the price of Bitcoin dropped below $30,000 but has been steadily climbing to $47,000 since that point. In the last year alone, the notoriously volatile Bitcoin has jumped from around $10,000 in October to more than $60,000 at one point in April.

Donald Trump is not a ‘big fan’ of cryptocurrencies
Many cryptocurrencies have skyrocketed in value this year.
Chesnot/Getty Images

Other cryptocurrencies have seen even more dramatic spikes. Dogecoin, which trades at around three cents, has surged as much as 400 percent in a single week.

Crypto prices can easily be influenced by comments and tweets from the likes of Tesla CEO Elon Musk — who at various points has accepted bitcoin as payment for Teslas.

Billionaire investor Mark Cuban also has a history of moving the price of cryptocurrencies with his tweets — Dogecoin surged after he announced he would accept it as payment for various products he sells as part of his Dallas Mavericks franchise.