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US Treasury Secretary No discussion of Bitcoin in 10 years no

Date:2024-08-13 18:18:50 Channel:Exchange Read:

In the wave of digital currency, Bitcoin, as the most representative virtual currency, has attracted the attention of global investors. However, the recent statement by the US Treasury Secretary has sparked widespread discussion. She said she would not talk about Bitcoin in the next ten years and promised that she would not buy Bitcoin. This statement not only caused fluctuations in the financial market, but also triggered people's deep thinking about digital assets.

The remarks of the US Treasury Secretary conveyed an important signal, indicating the government's position and attitude in the field of digital currency. As a country that controls the lifeline of the global economy, the US policy changes often have a profound impact on the global market. The Treasury Secretary's remarks clearly show a cautious attitude towards Bitcoin and related technologies, and are also an important prediction of the future development of digital currency.

On the one hand, the Treasury Secretary's statement may reflect the US government's concerns about the volatility of Bitcoin. The price of Bitcoin has experienced huge fluctuations in a short period of time, and investors' risk tolerance is particularly fragile in the face of this. In the past few years, the price of Bitcoin once soared to nearly $60,000, and then fell rapidly, causing losses to many investors. In this case, the government's cautious attitude is understandable.

On the other hand, the Treasury Secretary's reluctance to talk about Bitcoin in ten years may also reflect the regulatory challenges of digital currencies. Currently, many countries face difficulties in regulating digital currencies. The decentralized nature of Bitcoin makes it difficult to be covered by the traditional financial regulatory framework. Therefore, the Treasury Secretary's statement may imply that the US government hopes to discuss the issue of digital currencies under a clearer regulatory framework in the next ten years. This view echoes the global regulatory trend on digital currencies, and many countries are exploring how to promote financial innovation while protecting investors.

It is worth noting that the finance minister's statement does not mean that the outlook for Bitcoin is bleak. On the contrary, many financial experts believe that despite the government's cautious attitude, the potential of Bitcoin and blockchain technology is still huge. Other digital currencies such as Ethereum and Ripple are also developing and promoting innovation in financial technology. Many companies have begun to accept Bitcoin payments, and even some large companies such as Tesla and Square hold Bitcoin on their balance sheets.

At the same time, the finance minister's speech also triggered a reflection on the mentality of Bitcoin investors. In the eyes of many investors, Bitcoin is not only an investment tool, but also a means to fight inflation. In the current context of increasing global economic uncertainty, many people regard Bitcoin as "digital gold." However, this investment mentality also comes with huge risks, especially in the case of market fluctuations, investors' emotions are often affected, leading to irrational decisions.

In such a market environment, the finance minister's statement has undoubtedly sounded the alarm for investors. The decision to invest in Bitcoin should not be based solely on short-term market fluctuations, but should focus more on its long-term value and potential. This shift requires investors to have higher financial literacy, rationally analyze market dynamics, and make more informed investment decisions.

In addition, the finance minister's remarks also triggered discussions about the future development of digital currencies. Although the current policy environment is cautious about digital currencies such as Bitcoin, the future market development is still full of possibilities. With the continuous advancement of blockchain technology, the application scenarios of digital currencies are also expanding. From cross-border payments to supply chain finance, digital currencies are bringing changes to the traditional financial system.

In this context, the finance minister’s ten-year commitment may not mean a complete denial of Bitcoin, but rather a hope that this digital asset can be re-examined in a more mature market environment at some point in the future. Many financial institutions and technology companies are also constantly exploring how to combine blockchain technology with traditional finance to pave the way for the future development of digital currencies.

Finally, the finance minister's statement has triggered people's thinking about personal investment strategies. In the digital currency market, investors need to have keen market insight and good risk management capabilities. In the face of a volatile market environment, rational investment is particularly important. Whether choosing to invest in Bitcoin or other digital assets, investors should study relevant information in depth, fully understand market dynamics, and make rational investment decisions.

In short, the statement of the US Treasury Secretary is not only a warning to the Bitcoin market, but also a profound reflection on the future development of digital currency. In the next decade, the regulation, technological progress and market changes of digital currency will have a profound impact on the direction of this field. For investors, keeping a clear mind and rationally analyzing the market will ensure that they are invincible in this wave of digital currency.

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U.S. Treasury Secretary Steven Mnuchin
Mnuchin expressed new pessimism about Bitcoin today, saying he might not be talking about the number one cryptocurrency in five years.
Box” Mnuchin said:
“I won’t be talking about Bitcoin in 10 years, I can guarantee you that, (…) I bet even in 5 or 6 years, I won’t be talking about Bitcoin as the Secretary of the Treasury. I can guarantee you that I personally will not be buying Bitcoin.”
Mnuchin’s latest comments follow his comments that cryptocurrencies exist primarily as a vehicle for crime and speculative investment, saying:
“I think that, to a large extent, these cryptocurrencies have been dominated by illicit activity and speculation.”
However, Barry Silbert, CEO and founder of Digital Currency Group (DCG), praised the Treasury Secretary’s comments, calling them “full validation for Bitcoin.”
According to Bloomberg, Mnuchin said that US regulators may introduce new regulations on cryptocurrencies to ensure that they do not have a negative impact on the financial system.
“We are looking at all crypto assets,” he said. “We will make sure there is a unified approach, and my guess is that there will be more regulation coming from all of these agencies.”
Mnuchin also recently claimed that fiat currencies are not as prone to money laundering as Bitcoin.
In an interview with Bloomberg, he said that the United States has the strongest anti-money laundering system in the world. On the other hand, he believes that Bitcoin is easy to launder money.
As Cointelegraph previously reported, economist and anti-cryptocurrency expert Nouriel Roubini
Roubini recently wrote an article highly critical of BitMEX, suggesting that the exchange is knowingly laundering money for terrorists and criminals:
“BitMEX insiders revealed to me that the exchange is also being used on a daily basis by terrorists and other criminals in Russia, Iran, and elsewhere to launder money on a massive scale; the exchange is doing nothing to stop this as it profits from these transactions.”

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