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Former US President Donald Trump thinks Crypto is about to cause a disaster

The 45th president of the USA, Donald Trump, has changed his point of view towards cryptocurrencies as an asset class.

cryptocurrency
Photo By "Benzinga"

In the latest interview, former US President Donald Trump said that he did not dabble in Bitcoin and another cryptocurrency. He prefers US Dollars over cryptocurrencies. Moreover, he goes on to say that cryptos are about to bring about a disaster due to their nature.

He said, “I like the currency of the United States. I think the others [cryptocurrencies] are potentially a disaster waiting to happen.”

Donald Trump went on to say that the existence of cryptocurrency can even hurt the value of the US dollar.

He further added, “They may be fake. Who knows what they are? They certainly are currencies that people don’t know very much about. I’m not a big fan.”

This most recent interview of Trump on cryptocurrencies reiterates his comments on cryptos from last month. Earlier in June, he called Bitcoin “a scam”. He called for the action of regulators to step in this matter and act on it.

According to him, the currency of this world must be the American dollar. He does not think that we can have all the bitcoins of the world out there. He thinks they should regulate them to a very high mark. He further added that it requires the edge of the dollar and the importance of the American dollar.

At the same time, during the time of his comment from last month, bitcoin was trading near the mark of $36000. Since then, the price of bitcoin got much appreciation as it surged 42% to cross its mark of $50000 for the first time.

However, this crypto asset has managed to sustain its support at this pricing level. It is now consolidating near the mark between $47000 and $49000. Bitcoin price is currently trading at $ 48552, which has gained 3% over the past 24 hours.

Cryptocurrency has seen an uptick of up to 14% in its daily trading volume. It is standing near the mark of $35 billion.

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