Monday, November 29

Cryptocurrencies can destabilize nations, says Hillary Clinton

Hillary Clinton, US politician, said that cryptocurrencies could weaken currencies like the dollar and destabilize nations, starting with the small ones and with the potential to reach bigger ones. The speech took place this Friday (19) during an online event promoted by Bloomberg.

As inflation has hit many countries, including the US with the dollar and other smaller ones being more severe, many people are turning to the BTC as a hedge. And it’s being done by everyone from low-income people to the CEO of Apple.

The curious thing is that Hillary’s speech seems to be in line with the position of Central Banks. These issued statements warning of the volatility of Bitcoin, and other cryptocurrencies, this week.

Bitcoin has drawn the attention of politicians

Although she was the woman to receive the most votes during the 2016 US presidential race, Hillary Clinton was ultimately defeated by Donald Trump who took office between 2017 and 2021.

This Friday (19), Hillary expressed concern about the popularity that cryptocurrencies are having, which could represent a threat to the dollar as a currency used as a world store of value. Much of this is due to the fact of US inflation, as well as the better monetary policy of the BTC, the world’s largest cryptocurrency, which limits the maximum number of currencies to 21 million.

“One more area that I hope states will start to pay more attention to is the expansion of cryptocurrencies, as what appears to be a very interesting and somewhat exotic effort to literally mine new currencies and then trade in them has the potential to weaken coins [fiduciárias], for weakening the role of the dollar as a reserve currency, for destabilizing nations, perhaps starting with the small ones, but going much further.”, disse Hillary Clinton

Hillary’s speech also points out that cryptocurrencies can destabilize nations, starting with the small ones. Much of this is, again, due to inflation, which is even higher in small countries where citizens had no choice but to use a national currency that only loses purchasing power over the years.

Central Banks also issued notices this week

A curious point is that Hillary’s speech seems to be in line with the positions of the Central Banks. This week, both the European Central Bank (ECB) and the Central Bank of Australia (RBA) issued opinions on cryptocurrencies.

Their notes showed people’s concern about the inflation of their coins, and somehow tried to belittle Bitcoin, which has been used to protect the state’s printing of new coins.

On this Friday morning, both the BTC and other cryptocurrencies are still trading in decline after a busy week. However, despite the weekly drop of about 10%, Bitcoin still has a market capitalization in excess of $1 trillion.

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