Donald Trump on Crypto (Discussion)
Former U.S. President Donald Trump has commented on the growing popularity of cryptocurrencies and the crypto crackdown by the Chinese government. He reiterated his anti-crypto stance: “I don’t want to have other currencies coming out and hurting or demeaning the dollar in any way.”
Donald Trump Comments on Crypto and China’s Crackdown
Former U.S. President Donald Trump commented on the growing popularity of cryptocurrencies and the Chinese government’s crypto crackdown in an interview with Yahoo Finance’s Adam Shapiro, published Monday.
Trump was asked: “You have a relationship with the Chinese President Xi Jinping. What do you think Xi Jinping is up to? And is this crackdown on crypto good for the U.S.?” He replied:
Well, I think he wants to do his own currency, whether it’s crypto or otherwise.
Several people, including famous “Rich Dad Poor Dad” author Robert Kiyosaki, have similarly expressed that China has been cracking down on crypto to pave the way for its central bank digital currency (CBDC), the digital yuan. Some view the anti-crypto move by the Chinese government as positive news for the U.S, including a number of lawmakers. “China’s decision to restrict access presents a perfect opportunity for American leadership on cryptocurrency,” noted Congressman Patrick McHenry.
Commenting on the rising popularity of cryptocurrencies, Trump said: “And one of the reasons that we have to be very careful is we have a currency right now, the dollar. And I’m a big fan of the dollar. I’m a big fan of our currency.” He emphasized:
I don’t want to have other currencies coming out and hurting or demeaning the dollar in any way.