Former U.S. President Donald Trump says that crypto is “a very dangerous thing.” Commenting on cryptocurrencies, he warned of “an explosion someday” that will “make the big tech explosion look like baby stuff.” He also talked about his new social media platform, Truth Social, and his wife’s non-fungible token (NFT) venture.
Former US President Trump Warns of a Massive ‘Explosion,’ Stating that Crypto Is ‘Very Dangerous’
Donald Trump commented on cryptocurrency, his wife’s non-fungible token (NFT) endeavor, and his new social media platform, Truth Social, in an interview with Maria Bartiromo over the weekend. Fox Business published the interview Tuesday.
“What do you think about crypto?” Trump was asked. Bartiromo noted that “New York and Miami are really getting cryptocurrency into their financial systems.”
The former U.S. president reiterated his anti-crypto stance: “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:
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 fan of crypto. In August, he predicted that cryptocurrencies are “a disaster waiting to happen.” In June, he called bitcoin a scam that needs heavy regulation.
Trump was also asked about the former first lady’s non-fungible token (NFT) endeavor. Melania Trump announced last week that she’s selling an NFT, titled “Melania’s Vision,” on her newly launched NFT platform, which plans to release NFTs regularly. “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,” she said in a statement.
Commenting on his wife’s NFT plans, Trump said: “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 will be an alternative to Silicon Valley internet companies that he says are biased against him and other conservative voices. He plans to launch Truth Social nationally early next year.
The former U.S. president was further asked how he is going to compete with big tech companies like Twitter and Google. “We have no choice,” he replied, reiterating that he thinks “it’s going to be very big.”
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What do you think about Donald Trump’s crypto warning, Truth Social, and Melania Trump’s NFT venture? Let us know in the comments section below.
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.
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