Trump: Bitcoin 'seems like a scam' and should be regulated 'very very high'

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Trump: Bitcoin ‘seems like a scam’

Former President Trump on Bitcoin and whether he’s investing in today’s markets.

Former President Donald Trump said Monday that Bitcoin "seems like a scam" during a wide-ranging interview on "Varney & Co."

"You don’t like Bitcoin? You wouldn’t invest in Bitcoin? Do you invest in the stock market at this moment?" Stuart Varney asked Trump. 

"Bitcoin--it just seems like a scam. I was surprised. With us, it was at 6,000 and much lower," he said. 

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Trump asserted that he does not like Bitcoin because it is essentially another currency competing against the U.S. dollar. 

"I want the dollar to be the currency of the world--that’s what I’ve always said."

The former president added that he has not invested in the stock market "at this moment" despite trading in the past because it is currently sitting too "high."

Earlier in the interview when discussing the recent slew of cyber and ransomware attacks, Varney explained to Trump that Bitcoin was being utilized as a payment method by hackers to remain untraceable. 

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When asked about whether or not Bitcoin should face government regulation, Trump reiterated his point about the importance of the U.S dollar, but also said that Bitcoin should be regulated "very very high."

The former president wasn’t the only one to weigh in on Bitcoin recently.

On Saturday, Goldman Sachs published a note regarding a new survey to find out what assets hedge fund investment chiefs favor in the 2021 market. 

The note by Timothy Moe explained that the chief investment officer's least favorite investment was Bitcoin, followed closely by new IPOs.

Bitcoin, along with many other cryptocurrencies faced drastic drops in the last month. One extremely volatile day occurred on May 19 when China announced that it would ban financial and payment institutions from providing digital currency services.  

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In another instance, Tesla’s announcement that it would not accept digital currency as payment for their vehicles (a reversal from an earlier announcement) coincided with another dip. 

FOX Business' Ken Martin contributed to this report.