September 30, 2020

Bitcoin will never be part of the investment portfolio of US Treasury Secretary Stephen Mnuchin

Bitcoin will never be part of the investment portfolio of US Treasury Secretary Stephen Mnuchin

Ex-head of hedge fund expressed distrust of cryptocurrency in a new interview with CNBC, in which he assured viewers that in 10 years will not even remember about Bitcoin.

He also said that he personally would never buy Bitcoin.

Mnuchin is not a fan of Bitcoin

Video appeared more than a week afterwhen Mnuchin called Bitcoin a national security threat during a White House briefing. He later warned that the federal government would seek strict compliance with financial rules and regulations, claiming that criminals use cryptocurrency to conduct billions of dollars of illegal transactions.

We will make sure that Bitcoin does not becomethe equivalent of bank accounts with a Swiss number, which could be detrimental to the financial system, said Mnuchin, “There are billions of dollars of transactions in Bitcoin and other cryptocurrencies.

Meanwhile, when asked if he wouldignoring the US dollar, a sovereign asset, a global tool for criminal purposes - the same excuse that he uses to reject crypto - Mnuchin said that this is not accurate.

To protect the US financial system, we struggle daily with bad participants using US dollars.