U.S President Lashes Crypto Over U.S Dollar!

U.S President Lashes Crypto Over U.S Dollar!

The course of the cryptocurrency industry from the time of its birth, till the time it’s ruling the entire world right now, there has always been controversies upon the subject. However, with the passage of time, slowly the support towards cryptocurrencies is on the rise profusely. With the decrease in the percentage of people against cryptocurrencies, yet there are certain controversies as some famous people and celebrities often go against it. In spite of this, the former President of the United States speculates completely lashing out publicly against the crypto industry and its market.

The Former President’s Speculations

The former and the 45th President of the United States, Donald Trump has been so far the most controversial president in the history of America so far. Many of his radical statements and decisions have left the whole nation and the world in a state of surprise evidently. Even though his reign as the ‘President’ is over, yet his views are something which we all ought to be looking seriously into.

In spite of this, the former President, Donald Trump put forth his views abruptly to the public through an interview for Fox Business. Upon the interview on Tuesday, his views upon the cryptocurrency and its industry quite did not surprise the crypto enthusiasts very much, as it’s a known fact that the former president has always been against the crypto industry.  

Accordingly, Trump thrashes out upon the cryptocurrency industry when questioned upon it and regarding the Wall Street stock exchanges. When asked regarding the evolution of Bitcoin (BTC) and the cryptocurrency industry overall, Trump remains firmly against cryptocurrencies. Also, he states that cryptocurrencies may be fake. 

In addition, he also speculates that cryptocurrency has always remained a myth and many who are into it are often not sure about it. Also, he adds many people don’t know very much regarding it. 

Furthermore, he states that he always prefers and extends the support towards the U.S dollar. Accordingly, he states he will always be in support of the U.S dollar over all other sorts of digital currencies, digital assets, etc which ought to develop the economic statement of the nation,

Moreover, he expresses he’s not even keen upon the latest technological marvels like blockchain technology, as on the whole everything revolves around the cryptocurrency industry. 

Current Standings 

Despite such radical comments, the BTC at current stands about $46K with its graph slightly coming down, compared to Ethereum (ETH) which is on the rise profusely to more than 6.5%, standing at $3,429.75. 

President Joe Biden’s Views

On the contrary, it’s known to all that the current and active President of the United States is someone completely in support of the crypto industry and its market. In spite of this, the current President of the U.S, Joe Biden seeks to make the utmost profits either directly or indirectly from the industry for the complete betterment of the nation.

Moreover, Biden made Gary Gensler the U.S Securities and Exchange Commissions’ (SEC) head about a few months back. Accordingly, Gensler has already made and still is coming up with new plans and ideas through various regulatory decisions upon the cryptocurrency industry by controlling it overall. In addition, at the same time, he also seeks keen interests in making the best from the industry for funds towards the nation.

Furthermore, recently Gensler states that their team is taking up efforts to protect and scrutinize the trade and transactions of the cryptocurrencies earnestly. 

A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.