Hilary Clinton Says Bitcoin can Undermine Dollar’s Reserve Currency Status

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The former Secretary of State, Hilary Clinton, has claimed that the world needs to pay more attention to the increasing popularity of cryptocurrencies. She was addressing the attendees at the Global Economic Forum by Bloomberg. Sharing her thoughts on cryptocurrencies, she claimed that cryptocurrencies have blown up enough to pose a threat to the USD.

She mentioned the rivalry going on between important sovereign nations like China, North America, Australia, and Europe. According to her, the use of cryptocurrencies can be abused for sponsoring terrorist organizations that may be funded by the hostile government. She claimed that cryptocurrencies make it easy for the threat actors to fund covert militia rather than using armed forces.

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Hilary Clinton also Warns about Artificial Intelligence

Speaking on the matter of cryptocurrencies, Clinton claimed that the rise of AI technology is going to hinder the existence of multinational corporations and centralized governments in the future. She added that the use of cryptocurrencies could create an asymmetry of power distribution and invoke a violent distribution of geopolitical sovereignty.

She used the example of the Kremlin for spreading the underground resistance groups and sponsoring rebellious groups under its wings. Clinton also claimed that cryptocurrencies allow the user to manipulate the spread of information online that can disrupt the country. Furthermore, she claimed that cryptocurrencies could also destabilize nations, starting from the smaller ones and moving their way up to the bigger targets.

The Bitcoin maximalists and support groups have caught wind of the comments made by Hilary Clinton. Although she refrained from mentioning any particular cryptocurrency in her statement nevertheless, the Bitcoin evangelists have taken it upon themselves to defend the reputation of the firstborn cryptocurrency.

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Appearing on the CNBC show Squawk Box, CEO of MicroStrategy, Michael Saylor, claimed that Bitcoin is going to leave behind all the top reserve assets in 10 years. He also predicted that within 10 years, the total market cap of Bitcoin will reach $100 trillion. He claimed that commodities like gold, bonds, monetary indexes, and real estate are going to lose a significant portion of their value in favor of Bitcoin.

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