Ex-US Prez Trump says crypto is a ‘disaster waiting to happen’ | CryptoSlate

CryptoSlate

Former US President Donald Trump publicly abolished the idea of investing in cryptocurrencies, saying that they are hurting the US currency. 

While calling for unconditional devotion to the US dollar, Trump told Fox Business host Stuart Varney that Bitcoin (BTC) and other cryptocurrencies could unravel as potentially disastrous.

How To Get Free Crypto  

Who knows what they are

“I think we should strengthen, we should be invested in our currency,” said Trump, repulsed by the idea that Americans would choose to invest in another currency, be it crypto, over the US dollar.

“I feel that it hurts the United States currency,” added Trump openly sharing his few cents on why he’s “not a big fan” of crypto.

“I like the currency of the United States,” the ex-president said, while warning that cryptocurrencies “are potentially a disaster waiting to happen.”

“They may be fake. Who knows what they are,” he continued, finally concluding that “they certainly are something that people don’t know very much about.”

Coinbase Banner  

The US dollar’s enemy

Earlier in June, the ex-president said that Bitcoin seems like a “scam” and that its appeal is taking “the edge off of the dollar and the importance of the dollar.”

“I don’t think we should have all of the Bitcoins of the world out there,” Trump told Varney at the time, while categorically stating that “the currency of this world should be the dollar.” 

Back then, Trump warned that cryptocurrencies should be very highly regulated. Indeed, several countries, including El Salvador and Cuba, cornered by their dependence on the Mighty Buck made active decisions to adopt and recognize cryptocurrencies.

Meanwhile the US authorities have stepped up their game, announcing stricter regulation and new tax laws.

Get an edge on the cryptoasset market

Access more crypto insights and context in every article as a paid member of CryptoSlate Edge.

On-chain analysis

Price snapshots

More context

Join now for $19/month Explore all benefits

Like what you see? Subscribe for updates.

Go to Source
Author: Ana Grabundzija


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.