The Crypto community is still responding to the recent comment by US Treasury Secretary Steve Mnuchin on Bitcoin and his brothers. The asset itself reacted strongly with a 6% pump on that day and many have taken the positive outcomes of the speech, some of which claim to be "wildly bullish".
Bitcoin as value store
The rhetoric should have been loud, politicians and bankers see Bitcoin still as a tool to do bad things. In fact, it does not differ from cash or other commodities that can be transferred beyond the gaze of curious glances. The vast majority of krypton users are not criminals, drug dealers or money launderers, but the entire room is given this noxious label because the bureaucrats do not understand it and therefore fear it.
A number of industry observers have taken the positive results from the commentary by Mnuchin, which echoes the words in President Trump's recent cryptotweet. Ikigai Asset's Chief Investment Officer, Travis Kling, noted that both the Secretary of State and the Fed chairman agreed on the status of Bitcoin as a store of value.
The Fed chairman and the Treasury agree that Bitcoin is a Bitcoin speculative asset. Both, along with the president, agree that Libra and Bitcoin are two very different things. Wild bullish.
Both the Fed Chairman and US Treasury agree that Bitcoin is a speculative value store.
Both, along with the President, agree that Libra and Bitcoin are two very different things.  Wild bullish.
– Travis Kling (@Travis_Kling) July 15, 2019
Co-founder and partner of Morgan Creek Digital, Anthony Pompliano, viewed it from a different angle than the US regulators The Bitcoin and Krypto operations Are made legally and transparently.
Finance Minister Steve Mnuchin basically called for everyone to follow the rules and not do anything illegal with bitcoin or crypto. Sounds like green light for those who want to get things right.
Finance Minister Steve Mnuchin basically called on everyone to follow the rules and not do anything illegal with bitcoin or crypto.
Sounds like a green light for those who want to get things right 🙏🏽
– Pomp 🌪 (@APompliano) July 15, 2019
This sentiment was elsewhere on Crypto-Twitter Comments like this from other industry observers repeatedly:
Wow. @ stevenmnuchin1 just says, "I do not talk about Bitcoin's investment benefits and use it for speculation, I'm talking about stopping illegal financial activity."
This is a nonpolitical situation.
My jaw is on the ground!
19659018] Libra is a bigger threat than BTC.
The US Treasury seems to be more worried about Facebook's ambitions to dominate digital finance such as the data business.
"Concerning the Facebook "Weighing and other cryptocurrency developments, our overarching goal is to maintain the integrity of our financial system and protect it from abuse."
A huge data farm and Internet monopoly with over 2 billion users effectively creating their own bank, a few feathers have to rustle, if anything, the insatiability of Facebook has better lit the Bitcoin, because nobody It owns or controls it, and makes it a total antithesis to Libra.
Was the recent speech bullish for Bitcoin? Add your opinion below.
Courtesy of Twitter @Travis_Kling, @APompliano, Politico