Trump’s former Treasury Secretary Mnuchin said that buying Bitcoin as an alternative to gold is “good”

Bitcoin (Bitcoin) May be a “scam” by former US President Donald Trump, but the former Secretary of the Treasury seems to have turned around on the world’s first and most famous cryptocurrency.

speak NBC Finance Channel On Wednesday, Steven Mnuchin confirmed that his views on Bitcoin have “evolved.”

Mnuchin: Bitcoin’s position “has changed”

The Trump administration is known for its public disdain for Bitcoin, and those who wanted Trump’s support were ultimately disappointed.

Mnuchin himself was reluctant to provide support during his tenure at the Ministry of Finance, but his recent comments indicate that his position has clearly softened.

“I think my opinion has changed a bit, but it is very consistent,” he told the network.

“The first part is that I think the underlying technology of the blockchain is really incredible, and there are many different things, especially in fintech and finance. I think it has something to do with Bitcoin-if people want to buy Bitcoin As an alternative, it’s no different from buying gold or other assets—that’s good.”

The performance of gold (blue) and BTC/USD (orange) since 2020. Source: TradingView

Mnuchin added that he “does not want to own” Bitcoin is his portfolio, but emphasizes that he is not opposed to others adopting it.

Continuing, he expressed the hope that Bitcoin has “complete BSA and regulatory compliance.”

“In fact, last year, according to the OCC, we approved the bank to be able to custody it. The reason we did this was because we wanted to make sure that this becomes a reality in a regulated world.”

His words were praised by the Bitcoin circle, whose author Saifedean Ammous Bitcoin standard, Make a call These changes are “good to see.”

Bitcoin still has few political allies

Mnuchin’s views now sound increasingly at odds with Trump’s views last month Bluntly called Bitcoin is a collection of “scams” that ultimately failed to affect market sentiment.

related: Biden’s Ministry of Finance nominees will give priority to crypto regulation

At the same time, the photos under the current President Joe Biden have not yet brought much benefit to Bitcoin supporters. Secretary of the Treasury Janet Yellen (Janet Yellen) Express concern When discussing cryptocurrencies more broadly, senior politicians are divided on how to resolve this issue.

It’s not just the U.S. predicament-El Salvador passed the Bitcoin legal tender law in June Adverse reactions From global financial institutions including the World Bank and the International Monetary Fund.

This law, which went into effect in September, has so far been incomparable anywhere in the world.Paraguay, where Present This week’s regulatory bill on Bitcoin has not revealed plans to adopt the “Bitcoin Standard”.