Recently the former US President Donald Trump called crypto very dangerous. He even said that that they might explode, and that will make every other explosion in history look small. Yes, I am talking about the financial crisis in 2008, the tech stock, and the dot-com bubble that is imprinted itself in history. Well, those were pretty big events, and if a crypto crash could make them look small, it’s serious. But funnily, he also promoted his wife’s NFT venture and a new social media platform.
Donald Trump thinks crypto is dangerous
In a recent interview published by The Fox, Donald Trump shared his views on cryptocurrencies. He also promoted Truth Social, which is his social media platform, and also talked about his wife’s NFT journey. He was asked what he thinks about crypto as NY city and Miami are integrating it more into the financial system. Talking about crypto, Donald was very straightforward and expressed his disliking for the same.
He said that he never liked cryptocurrencies as he likes the dollar. In fact, his views are that the currency should always be the dollar, and despite that, nothing is being done though crypto is getting bigger and bigger. Donald fears that someday there might be a big explosion like the other bubbles in history but much much larger. This could decimate the entire financial system, and everyone will suffer.
Donald Trump has always been a big bear in the crypto space. He called for heavy regulation back in June and even called BTC a scam. But it seems like we might have a hypocrite here. While Donald Trump is bashing cryptocurrencies, at the same time, he is also promoting NFTs, which is also a byproduct of the space. His wife has launched her own platform and has released an NFT called “Melania’s vision.”
The social media platform
Donald Trump is also going to launch his own social media platform that will compete directly against the ones in silicon valley. He stressed the fact that the already established social media platforms are biased. And there is a need for an alternative. Donald also said that it is going to be very big. So, let’s wait and see what he is developing.
What are your thoughts as Donald Trump called crypto dangerous but praises NFTs? Do you think this was not the right thing to do? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Regulatory uncertainty isn’t stopping crypto investors from buying more.
