RATE Group | US Treasury Secretary Mnuchin Voices New Pessimism About Bitcoin’s Future
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US Treasury Secretary Mnuchin Voices New Pessimism About Bitcoin’s Future

27 Jul US Treasury Secretary Mnuchin Voices New Pessimism About Bitcoin’s Future

Posted at 17:36h in Cryptocurrency News by

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United States Treasury Secretary Steven Mnuchin voiced new bearish views on Bitcoin today, saying that he probably will not be talking about the number one cryptocurrency in as soon as five years. In an interview with Squawk Box CNBC on July 24, Mnuchin said:

“I won’t be talking about Bitcoin in 10 years, I can assure you that […] I would bet even in 5 or 6 years I’m no longer talking about Bitcoin as Treasury Secretary. I’ll have other priorities […] I can assure you I will personally not be loaded up on Bitcoin.”

Mnuchin’s latest remarks follow a recent statement about how cryptocurrencies primarily exist as a vehicle for crime and speculative investment, saying, “I think to a large extent, these cryptocurrencies have been dominated by illicit activities and speculation.” 

However, CEO and Digital Currency Group founder Barry Silbert celebrated the Treasury Secretary’s remarks, saying that they were “complete and total validation of Bitcoin.”

Money…

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