Robert Kiyosaki said that China is taking regulatory measures against cryptocurrencies to pave the way for the digital yuan. Trump expressed that he wanted the US dollar to be the only currency in the world when Bitcoin was worth USD 33,400.
Former US President Donald Trump recently gave his opinion on the growing popularity of cryptocurrencies. He warned that American citizens should beware of them as they have the dollar, which he allegedly admired.
Trump added that he did not want other currencies to harm or degrade the US dollar in any way. In this manner, the former US president confirmed that he maintains his position against cryptocurrencies.
The businessman also stated that China is supporting its economy on the US dollar, although it is not seeking to support it. He argued that the Asian country should continue like this unless the United States did something wrong.
The former president alleged that the North American country is losing credibility, which could affect it economically. The former president referred to the immigration situation of the United States on the border with Mexico and the withdrawal of troops from Afghanistan.
According to Trump, a monetary system based on the US dollar cannot lose its strength, as that would affect its credibility. For that reason, the former president recommended being very careful with that.
China’s Ban on Bitcoin Represents an Opportunity for the United States
Robert Kiyosaki, the renowned author of Rich Dad, Poor Dad, expressed that China is taking regulatory action against cryptocurrencies. In doing so, they seek to pave the way for the digital yuan, which the People’s Bank of China supports.
Some analysts consider the move against cryptocurrencies by China to be good news for the United States.
Congressman Patrick McHenry said that China’s ban represents an opportunity for US leadership in cryptocurrencies.
Donald Trump’s Position against Cryptocurrencies
Donald Trump has never liked Bitcoin and other cryptocurrencies, which he has expressed on several occasions. In 2019, the then president of the United States said that he was not a fan of those assets because he did not believe they were real money. Furthermore, he stated that their value is very volatile and based on nothing but thin air.
The former head of state even went so far as to express that Bitcoin had the appearance of a scam in June. Likewise, Trump alleged that unregulated crypto assets facilitate illegal activities such as drug trafficking.
Trump expressed that he wanted the US dollar to be the only currency in the world. However, at the time, the price of Bitcoin was USD 33,400. If the entrepreneur had invested in it, he would have earned a significant profit in just a few months.
Bitcoin is trading at around USD 54,486 and has accumulated a 30.9% gain in the last week, according to CoinGecko. After just five months, its price has increased by 63%.
The relevance of Bitcoin has led a growing number of personalities to set their sights on it. Amid the ban on cryptocurrencies in China, Trump still maintains that they are not money and contribute to criminal activities.
By Alexander Salazar