Donald Trump criticizes cryptocurrencies…

Donald Trump criticizes cryptocurrencies… post thumbnail image

Previously, the politician had repeatedly spoken about his negative attitude towards digital assets.

Former US President Donald Trump has once again criticized cryptocurrencies. At the same time, the politician supports his wife’s NFT initiative. The former head of America shared his opinion in an interview for Fox News.

According to Donald Trump, cryptocurrencies carry risks. He explains his point of view with the fact that digital assets can cause investors to suffer unprecedented losses.

“Well, I never agreed to it [криптовалюты] because I prefer to have dollars. I think the currency should be in dollar format. So I’m not a fan of this [криптовалют]… The digital asset market is getting bigger, and no one is trying to control it,” the politician said.

At the same time, Donald Trump told Fox News that he supports his wife’s NFT project. Recall that in mid-December 2021, Melania Trump launched a marketplace focused on non-exchangeable tokens on the Solana blockchain. In parallel, the wife of the former president of the United States presented her NFT series.

It is noteworthy that Melania Trump’s non-fungible tokens can be purchased for cryptocurrencies, which politicians consider a dangerous financial instrument.

Donald Trump in the crypto industry

During his tenure as head of the United States, politicians have repeatedly criticized cryptocurrencies. Donald Trump believes that digital assets cannot be equated with money. He explained his point of view with the fact that the financial instrument was not backed by anything. The politician also attributed the cryptocurrency’s high volatility to its losses.

He drew attention to the fact that digital assets can be used for criminal purposes. To deter the increasing popularity of cryptocurrencies in the fraud environment, the former president organized a special unit to fight cybercriminals in the crypto space.

In addition, Donald Trump has repeatedly criticized the national digital currency. In particular, he prohibited America from conducting transactions with the virtual analogue of Venezuela’s national currency – El Petro. Bear in mind that state authorities want to overcome Western sanctions pressure with the help of such tools.

It is noteworthy that in some cases, criticism of a new financial instrument from a politician, on the contrary, lends support to the market. A number of initiatives by the former president of the United States, including tax reductions on capital gains, also had a positive effect on the position of digital assets.

Many Donald Trump supporters, on the other hand, show sympathy for the crypto community. For example, in October 2021, former communications assistant to the former president of the United States, SkyBridge founder Anthony Scaramucci publicly endorsed bitcoin investors.

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