Tuesday, February 23, 2021

Bitcoin warning from the US Treasury Secretary!


Yellen made evaluations on the economic agenda at an event organized by The New York Times.

Pointing out that those who are most affected by the crisis caused by the new type of coronavirus (Kovid-19) epidemic should not be permanently injured, Yellen said, “I think we have more financial space than before and we should consider using it.” said.

Regarding whether US President Joe Biden’s $ 1.9 trillion economic support package will be successful, Yellen said, “For me, success is that we can return to pre-epidemic unemployment levels and see the reemployment of those who lost their jobs, especially in the service sector.” used the expressions.

Emphasizing that the most important task of the Treasury Minister is to ensure that the country is on a sound financial route, Yellen said that not making the necessary expenditure to get the economy back on track will be a cost.

“PEOPLE SHOULD BE AWARE THAT MAY BE EXTREMELY TOY”

Referring to the tax regulations, Yellen explained that Biden does not prefer wealth tax, such a tax will have serious implementation problems and the management wants to increase the corporate tax to 28 percent.

Stating that an increase in capital gains tax might be worth considering, Yellen underlined that the impact of the tax situation on ordinary investors should be closely examined.

Yellen also made evaluations about Bitcoin and said:

“I don’t think Bitcoin is widely used as a transaction mechanism. I’m afraid it’s often used for illegal financing. It’s an extremely inefficient way of processing transactions, and the amount of energy consumed in making these transactions is surprising. It’s a highly speculative asset. I think people are aware that it can be extremely volatile. I am concerned about the potential losses investors may suffer. ”

Bitcoin, which showed a rapid rise last week, fell in the new week. Bitcoin’s price, which saw over $ 58,000 over the weekend, went down to $ 50,000 on Monday.



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