rump makes his doomsday prediction for crypto and compares it to ‘big tech explosion’ but avoids talking about his wife’s NFT collection.
Trump: Crypto Boom or Bane?
Former US President Donald J. Trump called cryptocurrency ‘a very dangerous thing’ and complained that ‘nobody is doing anything about it.’ Trump reiterated his anti-crypto stance but avoided speaking on his wife’s Non-Fungible Token (NFT) collection titled, ‘Melania’s Vision’.
In his usual fashion, Trump avoided the uncomfortable question posed to him on his wife’s new project in an interview with Fox Business on December 20. He dodged the question on his wife’s NFT collection with a reply that did not relate to the interviewer’s question.
The former president, in his interview referring to cryptocurrencies, said:
“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.”
Mr. Trump has expressed his preference for the dollar over cryptocurrencies and had even said Bitcoin ‘seemed like a scam.’ Maria Bartiromo interviewed Trump on various topics ranging from his view on cryptocurrencies, his wife’s new NFT collocation, and his social media platform called ‘Truth Social.’
Trump Is Right About One Thing
Trump has been called out in the past for making untruthful allegations. This time around, Trump managed to hit the nail on the head. He is right when he said that regulators are not moving on crypto regulations.
The argument of whether crypto is good or not is no longer relevant. Crypto is gaining traction through retail and institutional adoption and, as such, must be regulated. US lawmakers must pass laws that will provide the much-needed clarity.
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Crypto Explosion
Messari, a research platform on crypto assets, produced a comprehensive report on the crypto market in 2022 titled ‘Crypto Theses for 2022’. In this report, there are three essential ingredients that will make crypto a success.
First, talents are flocking into the crypto space in record numbers. Secondly, mammoth venture capital funds, crypto startup fundraises, and the growth of emerging liquid protocols are indicators that capital is flowing into this space. Finally, critical infrastructures were put in place during the last bear cycle providing this bull cycle the launchpad that it needs.
In short, the crypto boom is no longer an if but a when.
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Source : bsc.news
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