Former US Treasury secretary on Bitcoin
The former US Treasury secretary, Mnuchin has initially dismissed Bitcoin when asked about it. At the time, he said that Bitcoin doesn’t have any inherent value. But recently when he was talking about BTC and the US economy in an interview with CNBC, he was again asked about his views on Bitcoin. Mnuchin was enquired if he has changed his take on the inherent value of Bitcoin. To this, he said that his views “has evolved a little bit.”
Mnuchin said:
“If people want to buy bitcoin as a substitute, no different than buying gold or some other asset, it’s fine. I don’t personally want to have it in my portfolio but if people want to that’s perfectly fine.”
He also said that the reason they allowed Bitcoin services to be offered by banks was that they want to make it regulated. After all “The underlying technology of blockchain is pretty incredible.” added the former secretary.
What does this mean?
The statement shows that the former US Treasury secretary believes that Bitcoin is an alternative asset to Gold. This change of views can be due to the mass adoption of BTC in the last few months. From big investors to big banks a lot of adoption has happened in the BTC community. We have seen Goldman Sachs, Bank of America, Citigroup among many others start Bitcoin trading desks for wealthy clients. We have seen Visa work on a crypto debit card and we have seen Tesla invest in Bitcoin. A lot has changed and even in the future the adoption is bound to increase.
