For Donald Trump, cryptocurrency is a time bomb
Donald Trump, the former President of the United States, once again spoke about cryptocurrencies in an interview with Fox Business on Tuesday, August 31, 2021. True to himself, the billionaire has not chewed his words.
“Who knows what they really are, but it is certainly something that people do not know much about,” said Donald Trump.
He sees the digital currency industry as a “potential disaster waiting to happen”. Under these conditions, the businessman refuses to invest in Bitcoin (BTC) and in any other cryptocurrency.
Recently, John Paulson, billionaire trader and unwavering supporter of Donald Trump since his first election campaign, agreed. For the famous American investor, cryptocurrencies do not have the slightest intrinsic value. Predicting the collapse of the digital currency market, he advises instead to invest in more traditional safe havens, like gold and real estate.
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Cryptocurrency harms the US dollar, says Donald Trump
Above all, the former President of the United States considers that Bitcoin, and other cryptocurrencies, undermine the sovereignty of “the American currency”. A fervent patriot, the businessman has always given priority to the dollar.
“I like the currency of the United States. We should be invested in our currency. […] The currency of this world must be the dollar. And I don’t think we should have all the bitcoin in the world. I think they should regulate them “, continues Donald Trump, believing that the cryptocurrency” reduces the importance of the dollar “.
This is not the first time that Donald Trump has felt that the digital currency industry is a danger to the US dollar. In June, the Republican had already declared that Bitcoin is a competitor currency of the dollar. Despite everything, the former president continued to call Bitcoin a scam.
Paradoxically, the Republican Party has been accepting cryptocurrency donations since last June. During the announcement, the Party even called digital currencies like Bitcoin “innovative technology.”
Note also that several elected Republicans have publicly shown themselves in favor of cryptocurrencies. This is particularly the case of Cynthia Lummis, a senator from Wyoming. Unlike Donald Trump, she considers Bitcoin to be a better investment than the dollar.
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About the author: Florian Bayard