'It's fine' to buy Bitcoin as gold substitute, says Trump ex-Treasury Secretary Mnuchin

'It's fine' to buy Bitcoin as gold substitute, says Trump ex-Treasury Secretary Mnuchin


Bitcoin (BTC) may be a “scam” for former U.S. president Donald Trump, but his treasury secretary appears to have made a U-turn on the world’s first and best-known cryptocurrency.

Speaking to CNBC on July 14, Steven Mnuchin confirmed that his perspective on Bitcoin had “evolved.”

Mnuchin: Bitcoin stance has “evolved a little”

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The Trump administration was known for its dismissive tone on Bitcoin in public, and those hoping for endorsement from Trump were ultimately left disappointed.

Mnuchin himself was less than inclined to offer support during his Treasury tenure, but his most recent comments reveal a clear softening of his stance.

“I think my view has evolved a little bit, but it is pretty consistent,” he told the network.

“The first part is I think underlying technology of Blockchain is really incredible and has lots of different things, particulalry in fintech and finance. I think as it relates to Bitcoin, if people want to buy Bitcoin as a subsititute — no different from buying gold

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