Former US President Donald Trump termed Bitcoin a "scam" and urged regulators to intervene. Following the comments, Bitcoin's price fell by more than 1% to a little more than $35,500. Trump has previously criticised Bitcoin, which fell by about $20,000 in 2019 after he claimed he was "not a fan" of it and competing digital currencies. The value of Bitcoin has been known to vary dramatically in response to even the shortest tweets from outspoken Tesla CEO Elon Musk.