I’m a big fan of the dollar

Donald Trump, the 45th President of the United States, joins Yahoo Finance’s Adam Shapiro to discuss the rising popularity of cryptocurrencies.

Video Transcript

Now, a great many of our viewers here on the Yahoo Finance platform are into cryptocurrencies. And the well-known Bitcoin investor Anthony Pompliano was just on my program talking about China’s crackdown on crypto. He says that’s a big gain for the United States. You have a relationship with the Chinese President Xi Jinping. What do you think Xi Jinping is up to? And is this crackdown on crypto good for the US?

DONALD TRUMP: Well, I think he wants to do his own currency, whether it’s crypto or otherwise. And one of the reasons that we have to be very careful is we have a currency right now, the dollar. And I’m a big fan of the dollar. I’m a big fan of our currency. And I don’t want to have other currencies coming out and hurting or demeaning the dollar in any way. And China is looking to do– China is certainly not looking to back the dollar. But right now, they’re based on the dollar and they would probably have to stay that way unless we do something very foolish in our country.

I mean, the problem that I have with so much has happened, whether you look at the border, the horror Show at the border, or the horror Show of the Afghan withdrawal is our country is losing credibility. And if you look at a monetary system based on the dollar, if you start losing credibility, all of a sudden you’re going to lose that strong monetary system. And we have to be very careful about that.

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