According to Clinton, cryptocurrencies have the power to weaken other currencies. Hillary Clinton showed her concerns about the impact of cryptocurrencies on the world economy.
Former US presidential candidate Hillary Clinton said that cryptocurrencies have the power to impact countries both large and small. Due to the currency’s sudden growth, she pointed out that an asset like bitcoin could even destroy the dollar as a reserve currency of value.
The comment made its appearance in the New Economy Forum led by Bloomberg Media Group, which took place in Singapore. During her participation, Hillary Clinton expressed that governments should be more aware of the rise of cryptocurrencies, as they could crush their national currencies.
The former candidate, who belongs to the Democratic Party, said that countries with weak currencies and economies will get affected first. Even though she assured that these countries would not be the only ones, the former candidate believes that this is an issue of global concern. She believes that strong nations like the United States of America could also destabilize due to this new threat.
The fear appears, on the one hand, by the exponential increase in the adoption of cryptocurrencies. Two proofs of this growing fear are the moves that several leaders of the United States of America made to collect their salary in bitcoin, and the weakening that the dollar is experiencing after inflation, something that even worries Elon Musk.
Not Everyone Thinks the Same Way Hillary Clinton does about Bitcoin
Alex McShane, a bitcoin journalist, referred to Hillary Clinton’s statement as a threat to multinational corporations. As a connoisseur of Bitcoin and cryptocurrencies, the journalist highlighted that many politicians like Clinton speak of the cryptocurrency ecosystem from ignorance.
McShane denied that cryptocurrencies could undermine fiat money currencies or entire countries because they play the same role in the economy. Although the journalist recognizes that bitcoin is generating an impact on the dollar as a global reserve currency, he understands it could be a threat to collect taxes and promote devaluation.
Another person who also sees strength in bitcoin is Gael Sánchez Smith, who believes that the world will begin to think about the values of things in this cryptocurrency. The analyst stated that it is just a matter of time before people would migrate to this new asset, and it would eventually become a large part of the world’s fortune.
The economist believes that those who start to think about bitcoin and its value before others will get better prepared for the years to come. He credits this situation to the fact that cryptocurrency in just 13 years of life is already an active asset for at least 2-3% of the world’s population.
Sanchez Smith also thinks that the world will go through an evolution, and it is going to implement bitcoin as the numerator of economic and commercial activity. It predicts that it will first work as a collectible investment mode, then as a store of value, and lastly, it will be the global financial asset.
By: Jenson Nuñez
