RATE Group | The Bitcoin Price Surged Because Mnuchin Made This Crucial Remark
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The Bitcoin Price Surged Because Mnuchin Made This Crucial Remark

16 Jul The Bitcoin Price Surged Because Mnuchin Made This Crucial Remark

Posted at 02:36h in Bitcoin News by

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The bitcoin price surged to an intraday high on Monday after US Treasury Secretary Steven Mnuchin made a crucial comment during his surprise press conference on cryptocurrency regulation.

Bitcoin Price Shoots to Daily High During Mnuchin Press Conference

The flagship cryptocurrency, which traded down after Mnuchin referred to it as a “national security issue,” suddenly shot higher midway through a question-and-answer session when a reporter asked him what he believed was driving its mammoth price increase.

bitcoin price chart
The bitcoin price exploded higher midway through US Treasury Secretary Steven Mnuchin’s press conference. | Source: TradingView

No, Mnuchin didn’t respond by explaining that cryptocurrency will supplant gold as the world’s favorite safe haven asset, and he didn’t pull any punches about its perceived association with illicit activities.

Mnuchin: Do Your Own Research

Crucially, though, he declined to allege that illicit activity was fueling bitcoin’s bull run, nor…

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