The crypto-verse seems to have caught the eye of the entire world. Hillary Clinton, who previously served as the Secretary of State is the latest to comment on the crypto wave. However, Clinton sent out alerts about how the crypto market had to ability to destabilize entire countries.
Sports personalities, actors, singers, politicians, and even the average Joe have expressed interest in crypto. An array of people were seen getting on the crypto bandwagon. Just as governments started to recognize cryptocurrencies, particularly Bitcoin, a prominent personality, Hillary Clinton decided to lay out the possible hazards of incorporating crypto into the system.
This isn’t the first time that a politician took a jab at the industry. Previously, several officials were seen calling out the crypto market for its volatility and decentralized nature, now, for the first time, Hillary Clinton chose to speak about it.
During a recent appearance at the Bloomberg New Economy Forum, Clinton addressed the surge in the demand for cryptocurrencies. Through this online appearance, Clinton revealed that cryptocurrencies had the ability to undermine the dollar that has been raging over the markets for the longest time.
Hillary Clinton, the latest crypto critique?
Cryptocurrencies have a lot to offer and these assets stand out from traditional fiat money. This, along with the world’s digital metamorphosis paved the way to the increased adoption of crypto. As the popularity of these digital assets grew, the fear surrounding the fall or decline of fiat currencies like the US dollar, began to erupt.
Further talking about the same, Hillary Clinton stated,
“One more area that I hope nation-states start paying greater attention to is the rise of cryptocurrency — because what looks like a very interesting and somewhat exotic effort to literally mine new coins in order to trade with them has the potential for undermining currencies, for undermining the role of the dollar as the reserve currency, for destabilizing nations, perhaps starting with small ones but going much larger.”
The crypto industry’s journey from being associated with the dark web to growing into a $2 trillion market is certainly commendable. Therefore, the fear of crypto taking over the world is justified.