‘It’s fine’ to buy Bitcoin as gold substitute, says Trump ex-Treasury Secreta...
What seems to be a full reversal on a previously hostile Bitcoin stance is tempered by Mnuchin, who added that he still wouldn’t buy BTC himself. Bitcoin (BTC) may be a “scam” for former United States President Donald Trump, but the former Treasury Secretary appears to have made a U-turn on the world’s first and best-known cryptocurrency.Speaking to CNBC on Wednesday, Steven Mnuchin confirmed that his perspective on Bitcoin had “evolved.”Mnuchin: Bitcoin stance has “evolved a little”The Trump administration was known for its dismissive tone on Bitcoin in public, and those hoping for....
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Federal Reserve Chairman Jerome Powell sees cryptocurrency as a substitute for gold, rather than the dollar. However, he cautioned that crypto assets, including bitcoin, are highly volatile and not useful as a store of value. Fed Chair Sees Bitcoin as a Gold Substitute During a webinar sponsored by the Bank of International Settlements (BIS) on Monday, Federal Reserve Chairman Jerome Powell talked about cryptocurrency, mentioning bitcoin in particular. The Fed chair detailed: “Crypto assets are highly volatile, see bitcoin, and therefore are not really useful as a store of value.....
Former US President Donald Trump has revealed that JPMorgan CEO Jamie Dimon, a well-known skeptic of Bitcoin and cryptocurrencies, has apparently “changed his tune,” with the potential to win the role of Treasury Secretary in the scenario where the former president once again wins the seat in the Oval Office. Trump’s comments come as Treasury […]
Jerome Powell reiterates his opinion about Bitcoin as a gold substitute, but a sell-off accompanies his other criticisms. While Bitcoin (BTC) is too volatile to be money and is "backed by nothing," it could be a "substitute for gold," said the chair of the United States Federal Reserve.Speaking at an event hosted by the Bank for International Settlements, or BIS, on Monday, Jerome Powell delivered frank comments in response to a question on cryptocurrency.Powell takes issue with Bitcoin's backingWhen asked whether he thought Bitcoin and other cryptocurrencies posed a threat to financial....
A failure to retain $31,000 would mean that $29,000 and then $24,000 are on the menu, says Michaël van de Poppe. Bitcoin (BTC) dropped to its "final support zone" above $31,000 on July 15 as a low grind downward brought fresh predictions of a BTC price crash.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBinance debacle spreads as $32,000 fallsData from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting fresh local lows of $31,550 on Thursday.The pair had made little progress overnight, falling further as Italian lawmakers said that major exchange Binance was....
At the same time, one has to wonder if Trump can deliver on his promise to "Make America Great Again". The impending inauguration of Donald Trump will send shockwaves through the global financial sector. Some experts feel gold prices will soar, depending what Trump says during his speech. At the same time, Bitcoin’s value could go up by quite a margin as well. Safe-haven assets will be in high demand moving forward, that much seems to be a foregone conclusion. Trump’s inauguration is getting a lot of media attention right now. With just a few days until this event happens, the....