Former US President Donald Trump made certain comments about the rise in popularity of cryptocurrencies. In an interview with Adam Shapiro of Yahoo Finance.
By asking your opinion in the interview, on the rise in popularity of cryptocurrencies. Trump responded: “One of the reasons we have to be very careful is that we have a currency right now, the dollar. And I am a huge fan of the dollar. I am a great admirer of our currency.
“I don’t want other currencies to come out that harm or degrade the dollar in any way.” The former president added.
“China is certainly not looking to back the dollar. But right now they are supporting their economy on the dollar and they would probably have to stay that way unless we do something very foolish for our country, “said Donald Trump.
Regarding the immigration situation of the United States on the border with Mexico and the withdrawal of troops from Afghanistan. Trump said: “The problem I have is that our country is losing a lot of credibility and that can affect us economically.”
Trump explained: “If a monetary system based on the dollar begins to lose credibility, it will also lose the strength of the monetary system. And we have to be very careful with that.
Famous ‘Rich Dad Poor Dad’ author Robert Kiyosaki has expressed that China is cracking down on cryptocurrencies to pave the way for its central bank digital currency (CBDC), the digital yuan.
Likewise, some experts have seen China’s anti-cryptocurrency movement as good news for the United States.
“China’s decision to ban access to digital assets represents a perfect opportunity for US leadership in cryptocurrencies,” said Congressman Patrick McHenry.
Donald Trump and his anti-cryptocurrency stance
Donald Trump has always been a critic of Bitcoin and cryptocurrencies. In 2019, when he was still serving as President of the United States, through a tweet he said “I am not a fan of Bitcoin and other cryptocurrencies, which are not real money, and whose value is very volatile and based on nothing . Unregulated crypto assets facilitate illegal activities, including drug trafficking and other illegal activities.
In an interview with FOX Business in June, Donald Trump commented that Bitcoin “appeared to be a scam,” and that he would not invest in it, as he wanted “the dollar to be the only currency in the world.” However, the price of Bitcoin at the time was $ 33,400. At the time of writing, Bitcoin is trading at $ 51,454.30, according to CoinMarketCap. Which represents an increase of 154% in just five months.
Despite constant regulations by regulatory institutions and the recent ban by China. Bitcoin has had a growth of 486% with respect to its price in the month of October of last year. Source: CoinMarketCap
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