WATCH: Hillary Clinton Says Crypto Could ‘Destabilize Nations’ And Threaten Dollar As Global Reserve Currency

Hillary Clinton is no fan of crypto. In fact, she thinks that crypto is dangerous and could “destabilize nations” and even threaten the “dollar as the reserve currency.”

In a Bloomberg New Economy Forum panel, the former presidential candidate warned about a series of new challenges she believes the world’s governments will soon face. “Crypto” is one of these challenges, according to Clinton.

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“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 former Secretary of State said. (Story continues below.)

 

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She also accused Russian President Vladimir Putin of employing a “very large stable of hackers and those who deal in disinformation and cyberwarfare.”

Traders Fire Back Against Clinton

Crypto traders took to social media to fire back against Clinton’s comments. Many, in fact, agreed with her assessment, but saw it as a positive rather than a negative.

Experts says the potential for cryptos to replace the U.S. dollar, however, is unlikely. That’s because the U.S. dollar has the power of the U.S. government backing it. Bitcoin, for example, is actually prices in dollars. Nonetheless, the prospect of crypto replacing other currencies still excites many crypto traders.

Clinton, meanwhile, has become quite unpopular in online crypto circles as some enthusiasts see her as someone entrenched as part of an elite political establishment and therefore out of touch with the people.

Others argued that it was not Bitcoin that was destabilizing the dollar. Rather, that was the fault of the Federal Reserve and its reckless money printing.

Online, the bitcoin community responded to Clinton’s statement mocking her suggestions that cryptos may be “destabilizing nations.”

Interestingly, former President Donald Trump, whom Clinton was running against also spoke out against crypto. Back in June, Trump called Bitcoin a scam, as it competed against the U.S. dollar.

“Bitcoin just seems like a scam… I don’t like it because it is another currency competing against the dollar… I want the dollar to be the currency of the world, that is what I have always said,” Trump stated.

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