Former U.S. President Trump Warns of a Massive ‘Explosion,’ Stating that Crypto is ‘Very Dangerous’

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Key Takeaways:

  • In an interview with Maria Bartiromo, former U.S. President Trump warns of a massive ‘explosion,’ stating that crypto is ‘Very Dangerous.’
  • The former U.S. president warned that “I don’t want to have all these others, and that could be an explosion someday, the likes of which we’ve never seen. It will make the big tech explosion look like baby stuff. I think it’s a very dangerous thing.”
Former U.s. President Trump Warns Of A Massive 'Explosion,' Stating That Crypto Is 'Very Dangerous'
Former U.S. President Trump Warns of a Massive ‘Explosion,’ Stating that Crypto is ‘Very Dangerous’

In an interview with Maria Bartiromo over the weekend, Donald Trump discussed cryptocurrency, his wife’s non-fungible token (NFT) venture, and his new social media platform, Truth Social. The interview was broadcast on Fox Business on Tuesday.

“What do you think about crypto?” Trump was asked. The former U.S. president reiterated his anti-crypto stance by saying,

 “Well, I never loved it because I like to have the dollar. I think the currency should be the dollar, so I was never a big fan. But it’s spilling up bigger and bigger, and nobody is doing anything about it.”

Emphasizing, “Look, I want a currency called the dollar,” he warned that “I don’t want to have all these others, and that could be an explosion someday, the likes of which we’ve never seen. It will make the big tech explosion look like baby stuff. I think it’s a very dangerous thing.”

Trump has never been a supporter of cryptocurrency. He predicted that cryptocurrencies would be “a disaster waiting to happen in August.” He called bitcoin a scam in June and said it needed to be heavily regulated.

In 2019, while still president of the U.S., Trump tweeted: 

“I am not a fan of bitcoin and other cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air. Unregulated crypto-assets can facilitate unlawful behavior, including drug trade and other illegal activity.”

Trump was also questioned about Michelle Obama’s non-fungible token (NFT) project. Last week, Melania Trump announced that she is selling an NFT titled “Melania’s Vision” on her newly launched NFT platform, which plans to release NFTs regularly. In a statement, she said,

 “I am proud to announce my new NFT endeavor, which embodies my passion for the arts and will support my ongoing commitment to children through my Be Best initiative.”

https://twitter.com/MELANIATRUMP/status/1471468919810670603?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1471468919810670603%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fwww.coinspeaker.com%2Fmelania-trump-nft-platform%2F

Commenting on his wife’s NFT plans, Trump said that

 “She’s going to do great. She got a great imagination. And people love our former first lady. I can tell you that. They really do. They love her.”

Regarding his social media platform Truth Social, he stressed, “It’s going to be so big.” Trump previously explained that the new platform would be an alternative to Silicon Valley internet companies. According to him, the Silicon Valley internet companies are biased against him and other conservative voices. He plans to launch Truth Social nationally early next year. The former U.S. president was also asked how he plans to compete with large tech firms such as Twitter and Google. “We don’t have a choice,” he said, adding that “it’s going to be very big.”

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Chaahat Girdhar

I'm Chaahat Girdhar, a journalist by profession who's turning her dreams into vision and vision into reality. I'm curious and have an appetite for gaining new knowledge. So I'm looking forward to learning things in the better way possible.