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The Defiant 2025-05-06 16:35:17

U.S. Treasury Secretary Bessent Calls CBDC a 'Sign of Weakness', Supports Bitcoin as Store of Value

U.S. Treasury Secretary Bessent Calls CBDC a 'Sign of Weakness', Supports Bitcoin as Store of Value

U.S. Treasury Secretary Scott Bessent has expressed strong opposition to the idea of a central bank digital currency (CBDC), describing it as a 'sign of weakness'. Bessent's stance was made clear in recent statements where he firmly stated that he would not support the Federal Reserve issuing a digital currency. Bessent's comments align with his belief that digital assets should remain within the private sector, further emphasizing his position against a Fed-issued CBDC. Additionally, Bessent has noted that Bitcoin is becoming recognized as a store of value. This perspective was shared in response to inquiries about the potential role of digital currencies in the U.S. financial system. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

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