Is Bitcoin purely a speculative asset? A former US treasurer thinks so

Rios also buttresses her point by mentioning the latest action by China to ban crypto trading. The Chinese government has been very serious in its goals to suppress the activities of digital asset trading within the Chinese borders. The latest ban is part of the long line of FUD, as the government defends its decision based on crypto’s continuous facilitation of money laundering.

Shortly after the announcement, the crypto market experienced a slight retracement before gradually bouncing back.

Now, Rios has become one of the few people who have questioned the viability of assets like BTC and ETH, although she has been in support of XRP for several months. She is not only a supporter but part of Ripple’s board of directors as well. Apart from praising XRP for its role in facilitating payments, Rios has also praised its “credibility” unlike Bitcoin that has the tag name as “the currency of crime on the dark web.”

Many Crypto Enthusiasts Disagree With Rios

While there are few people who may be in support of Rio’s view, many crypto enthusiasts questioned her recent tweet that claims both Bitcoin and Ethereum only find value in speculation. Bitcoin, in particular, has garnered more recognition across the globe as an asset used for facilitating payments.

The crypto asset now serves as a digital store of value for many individuals and organizations. And recently, El Salvador adopted the digital asset as its currency. These recent developments showed that Bitcoin is not only valuable as a speculative asset but both as a store of value and for transaction purposes.