Hillary Clinton warns that cryptocurrency could destabilize nations and undermine the dollar as a world reserve currency - news
Hillary Clinton warns that cryptocurrency could destabilize nations and undermine the dollar as a world reserve currency - news
The former presidential candidate Hillary Clinton asked the nation states to "pay more attention to the rise of cryptocurrency". She warned that crypto could undermine the role of the dollar as a world reserve currency and destabilize nations.
Hillary Clinton warns that cryptocurrency represents a risk of the US dollar and the stability of the nations
The former democratic presidential candidate Hillary Clinton spoke on Friday during a panel discussion in the Bloomberg New Economy Forum in Singapore about cryptocurrency.
While he was asking a number of new challenges, including disinformation and artificial intelligence (AI), Clinton said: "Another area that the nation states hopefully pay more attention is the rise of cryptocurrency."
The former foreign minister added:
What looks like a very interesting and somewhat exotic attempt to literally reduce new coins in order to act with them has the potential to undermine currencies, to undermine the role of the dollar as a reserve currency, to destabilize nations, perhaps starting with small ones, but goes much greater.
Clinton is not the only one who sees that the increasing popularity of cryptocurrency could harm the US dollar. Former President Donald Trump said several times that he doesn't like cryptocurrency because she competes with the US dollar. "I don't want other currencies to get out and injure or humiliate the dollar in any way", he emphasized .
In July last year, the global investment bank Goldman Sachs Warned that the "real concerns regarding the longevity of the US dollar have appeared as a reserve currency".
The legendary fund manager Stanley Print Miller in May:" I'm now worried for the first time that Lose the reserve currency status within 15 years and of course all the incredible advantages that are connected with it. ”
However, some people believe that crypto will not replace the dollar as a reserve currency in the world. Mohamed el-erian, Chief Economic Advisor at the financial service company Allianz, this week is called this week. Crypto "always exist in the ecosystem, but it will not be a global currency ... it will not replace the dollar".
What do you think of Hillary Clinton's comments? Let us know in the comment area below.
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