U.S. Treasury Secretary Steven Mnuchin speaks a negative tone on Bitcoin

The U.S. Treasury Secretary was speaking to CNBC in an interview regarding cryptocurrencies.
Mnuchin spoke a very negative tone on Bitcoin, casting a bleak outlook for the number one cryptocurrency by market cap.

Ken Chigbo Independent Analyst

The U.S. Treasury Secretary Steven Mnuchin was speaking to CNBC in an interview today, on Bitcoin and broader outlook of cryptocurrencies.

Mnuchin said:

I can assure you I will personally not be loaded up on bitcoin in 10 years.

I would bet even in 5 to 6 years I won’t even be talking about bitcoin as Treasury Secretary.

Last week, On July 18, Mnuchin erroneously made a claim that fiat currencies are not vehicles for money laundering, while “there are billions of dollars of transactions going on in bitcoin and other cryptocurrencies for illicit purposes.”

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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