Donald Trump warned cryptocurrency holders of the threat of disaster

Former U.S. president says investing in digital assets hurts U.S. currency

Donald Trump warned cryptocurrency holders of the threat of disaster

Billionaire and former U.S. president Donald Trump warned cryptocurrency holders in an interview with Fox Business that investing in digital assets could lead to disaster. According to Trump, investing in cryptocurrency is harmful to the U.S. currency. The former president also added that digital assets can be “fake” because people don’t know much about them.

“Who knows what they are, but it’s definitely something that people don’t know much about”, Trump noted.

The billionaire added that he has never been a supporter of cryptocurrencies because he likes the American dollar, which Trump said should be invested in.

The billionaire had already criticized cryptocurrency in June. At the time, Trump called bitcoin a fraud and called on U.S. authorities to impose strict regulation of the crypto market. Trump attributed his dislike of bitcoin to the fact that the cryptocurrency competes with the U.S. dollar, which in his opinion should become “the currency of the world.

Trump planned to “end” bitcoin and other cryptocurrencies and stop their trade as president of the United States. He made such an instruction to U.S. Treasury Secretary Steven Mnuchin in May 2018.

The former president has repeatedly expressed his negative attitude toward digital assets. For example, last July, Trump said that cryptocurrencies are not money, they are extremely volatile, and their value is “taken from the ceiling”.

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The post was written by Crypto Expert John Belford

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