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Former US president Donald Trump refers to crypto as a ‘disaster waiting to happen’

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Former US President Donald Trump appears to be “not a big fan” of cryptocurrency

It looks like former US president Donald Trump is “not a big fan” of cryptocurrency. Trump has always been quite open and opiniated and this time he didn’t step back from expressing his dislike for digital currency. On Tuesday, he told Fox business that investing in crypto could be “potentially a disaster waiting to happen.” 

In an interview on the Varney & co. show Trump was asked by the host of the show Varney, “Do you have a dabble in Bitcoin or cryptos?” Trump stated that he doesn’t like investing in any digital currencies says he is only interested in the currency of the United States. Trump didn’t shy away from his point and stated, “I feel that it (cryptocurrency) hurts the United States currency.” Instead of learning more about crypto and supporting it he kept insisting on supporting US dollar. He said, “I think we should be invested in our currency.” 

He continues expressing himself by stating that cryptocurrencies are fake, “Who knows what they are? But they certainly are something that people don’t know very much about.” Trump has expressed his hate towards crypto long before. Once he called it a “scam” and said that it was taking “the edge off of the dollar and the importance of the dollar.” These controversial statements of Trump come at a time when crypto remains unregulated under the US legislation. Nonetheless, securities and exchange commission chairman Gary Gensler speaks in favour of crypto. According to him the “field is not going to reach any of its potential if it tries to stay outside of our laws.” Gensler call crypto as “innovative technologies” while knowing everything about the risks it imposes upon the industry. 

Through the years crypto have had mixed responses from many people. Even though they have received support from people like Elon Musk there have been others like Trump who have gone on hating spree to slander the digital assets. Billionaire John Paulson had call crypto a “worthless” bubble a few days ago he believes no matter where crypto are trading now they will go to zero once the whole hype around it stops. Whereas, others like Naomi Osaka has openly taken interest in Dogecoin creating a whole noise around it. 

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