In an interview with Fox Business (Video Below) this Wednesday, Donald Trump, former US president, again attacked cryptocurrencies while defending the dollar.
According to him, the fall of cryptocurrencies will be greater than the fall of technology companies in the 2000s.
In addition, the former US president also spoke about his wife, Melania Trump’s venture into the NFT sector, saying that she is doing very well. Melania Trump launched the NFT platform on December 16th.
It’s important to note that many projects always disappear, in any industry, but the best ones always remain at the top, whether in technology companies or cryptocurrencies.
Bitcoin is too risky:
This is not the first time that former President Donald Trump has gone public to defend the dollar and voiced against crypto. In October this year, Trump has already expressed concerns about both China’s Digital Yuan and Bitcoin (BTC). He believes that cryptocurrencies can undermine the independence of the dollar and bring the country’s financial system to stagnation.
The curious thing is that although he doesn’t like cryptocurrencies, his wife is venturing into the world of NFTs. According to Melania Trump, her work combines her two passions, art and the will of helping other people.
“She is doing really great, People loves her imaginations and her work.”
Even so, Trump is still not convinced about the role of cryptocurrencies, after all his patriotism makes him defend the interests of the state, which can become weaker if the US loses control over the Dollar.
On cryptocurrencies, Trump’s opinion remains the same. Adding that their fall could be big, much bigger than the tech company bubble, probably referring to the Internet Bubble, which occurred in the 2000s.
“I never loved crypto because I like to have the dollar, I like the only currency to be the dollar, So I am never a big fan of crypto, and nobody is doing anything to stop crypto. Look, I want a coin called Dollar, I don’t want to have all these others currencies, and there could be an explosion someday, the kind of which we’ve never seen. It’ll make the big tech explosion look like baby stuff. I think Crypto is a very dangerous thing.”
The dot-com bubble, also known as the dot-com boom, the tech bubble, and the Internet bubble, was a stock market bubble caused by excessive speculation of Internet-related companies in the late 1990s, a period of massive growth in the use and adoption of the Internet.
Although the Internet Bubble ruined many companies, still today the most valuable companies in the world are precisely from this sector (Internet). Apple, Microsoft, Google, and Amazon have an average market capitalization of $2.2 trillion each.
The same phenomenon can be seen in cryptocurrencies. No doubt, over time several cryptos disappear from the top 10, some of them suffer losses greater than 80%. Despite this, Bitcoin has been at the top for more than a decade, and for a few years, Ethereum is chasing BTC as the 2nd top crypto, also known as the next Apple.
In short, it is very likely that most cryptocurrencies will disappear. However, projects with value tend to stay in the market for a long time, gaining more and more adoption.
Watch Trump Interview With Fox Business:
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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