{"id":12831,"date":"2021-10-04T18:54:15","date_gmt":"2021-10-04T18:54:15","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/donald-trump-on-crypto-i-dont-want-other-currencies-coming-out-and-hurting-the-dollar\/"},"modified":"2021-10-04T18:54:15","modified_gmt":"2021-10-04T18:54:15","slug":"donald-trump-on-crypto-i-dont-want-other-currencies-coming-out-and-hurting-the-dollar","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/donald-trump-on-crypto-i-dont-want-other-currencies-coming-out-and-hurting-the-dollar\/","title":{"rendered":"Donald Trump on Crypto: \u2018I Don\u2019t Want Other Currencies Coming Out and Hurting the Dollar\u2019"},"content":{"rendered":"

Former U.S. President Donald Trump has commented on the growing popularity of cryptocurrencies and the crypto crackdown by the Chinese government. He reiterated his anti-crypto stance: \u201cI don\u2019t want to have other currencies coming out and hurting or demeaning the dollar in any way.\u201d<\/strong><\/p>\n

Donald Trump Comments on Crypto and China\u2019s Crackdown<\/h2>\n

Former U.S. President Donald Trump commented on the growing popularity of cryptocurrencies and the Chinese government\u2019s crypto crackdown in an interview with Yahoo Finance\u2019s Adam Shapiro<\/a>, published Monday.<\/p>\n

Trump was asked: \u201cYou have a relationship with the Chinese President Xi Jinping. What do you think Xi Jinping is up to? And is this crackdown on crypto good for the U.S.?\u201d He replied:<\/p>\n

Well, I think he wants to do his own currency, whether it\u2019s crypto or otherwise.<\/p>\n

Several people, including famous \u201cRich Dad Poor Dad\u201d author Robert Kiyosaki<\/a>, have similarly expressed that China has been cracking down on crypto to pave the way for its central bank digital currency (CBDC), the digital yuan. Some view the anti-crypto move by the Chinese government as positive news for the U.S, including a number of lawmakers<\/a>. \u201cChina\u2019s decision to restrict access presents a perfect opportunity for American leadership on cryptocurrency,\u201d noted<\/a> Congressman Patrick McHenry.<\/p>\n

Commenting on the rising popularity of cryptocurrencies, Trump said: \u201cAnd one of the reasons that we have to be very careful is we have a currency right now, the dollar. And I\u2019m a big fan of the dollar. I\u2019m a big fan of our currency.\u201d He emphasized:<\/p>\n

I don\u2019t want to have other currencies coming out and hurting or demeaning the dollar in any way.<\/p>\n

\u201cAnd China is certainly not looking to back the dollar. But right now, they\u2019re based on the dollar and they would probably have to stay that way unless we do something very foolish in our country,\u201d the former president opined.<\/p>\n

Citing \u201cthe horror show at the border\u201d and \u201cthe horror show of the Afghan withdrawal,\u201d Trump stressed: \u201cThe problem that I have \u2026 is our country is losing credibility.\u201d He elaborated: \u201cIf you look at a monetary system based on the dollar, if you start losing credibility, all of a sudden you\u2019re going to lose that strong monetary system. And we have to be very careful about that.\u201d<\/p>\n

Trump has always been a critic of bitcoin and cryptocurrencies. While still president of the U.S., he tweeted: \u201cI am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated crypto assets can facilitate unlawful behavior, including drug trade and other illegal activity.\u201d<\/p>\n

In June, he said<\/a> bitcoin \u201cseemed like a scam\u201d and he would not invest in it. The price of bitcoin was only $6,000 at that time. At the time of writing, BTC<\/a> is trading above $49K based on data from Bitcoin.com Markets<\/a>. In August, Trump warned<\/a> that crypto was \u201cpotentially a disaster waiting to happen.\u201d<\/p>\n

What do you think about Donald Trump\u2019s comments? Let us know in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nFeatured, Donald Trump, donald trump bitcoin, donald trump crypto, donald trump cryptocurrency, President Trump, trump dollars<\/p>\n","protected":false},"excerpt":{"rendered":"

Former U.S. President Donald Trump has commented on the growing popularity of cryptocurrencies and the crypto crackdown by the Chinese government. He reiterated his anti-crypto stance: \u201cI don\u2019t want to have other currencies coming out and hurting or demeaning the dollar in any way.\u201d Donald Trump Comments on Crypto and China\u2019s Crackdown Former U.S. President…<\/p>\n","protected":false},"author":0,"featured_media":12832,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12831","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12831"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12831"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12831\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12832"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}