According to Steven Mnuchin, who has repeatedly criticized digital assets, buying bitcoin is normal, like purchasing gold or other assets.
Former US Treasury Secretary Steven Mnuchin in an interview with CNBC called buying bitcoin a normal phenomenon, since cryptocurrency is no different from gold or other assets.
The ex-official noted that after leaving the American government, he changed his attitude towards digital assets, but does not plan to invest in cryptocurrency.
"If people want to buy #bitcoin as a substitute, no different than buying gold or some other asset, it's fine. I don't personally want to have it in my portfolio but if people want to that's perfectly fine," says @stevenmnuchin1 #btc pic.twitter.com/dmyRp3SXtK
— Squawk Box (@SquawkCNBC) July 14, 2021
“I personally don’t want it (bitcoin – ed.) To be in my portfolio, but if people want it, it’s okay,” Mnuchin said.
Also, according to the ex-minister, most cryptocurrency should be in a “regulated environment”.
In 2019, Mnuchin said that he did not believe in the long-term prospects of bitcoin. In 2020, he called cryptocurrencies a threat to US national security.
"I can assure you I will personally not be loaded up on bitcoin" in 10 years, says Treasury Secretary Mnuchin #bitcoin pic.twitter.com/0J5acWQwRO
— Squawk Box (@SquawkCNBC) July 24, 2019
On July 13, legendary investor Bill Miller named bitcoin as the best asset to protect against inflation. The main cryptocurrency (bitcoin) emerged in response to the 2008 crisis to be free from government control and manipulation, Miller explained.