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US Treasury Secretary Janet Yellen warned investors that Bitcoin is a highly speculative asset.

Today (23rd), the price of bitcoin plunged, breaking the 50,000 dollar mark.



This news is from Kim Jong-won from New York.



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Finance Minister Janet Yellen, the head of the US economy, warned against investing in bitcoin.



At an event hosted by The New York Times today, Yellen said he was concerned that it would be used for illegal finance, saying that he does not believe that Bitcoin will be widely used as a means of trading.



He criticized it as an extremely inefficient means of trading, saying that there is too much energy consumed in the process of mining Bitcoin.



Yellon warned that Bitcoin is a highly speculative asset, and that investors are concerned because it is very likely to suffer losses.



Minister Yellen also pointed out the speculative nature of bitcoin a few days ago and emphasized the need to regulate bitcoin handling institutions.



Elon Musk and Tesla chairman, who played a decisive role in boosting Bitcoin's uptrend and price soaring, also took a step out.



Musk yesterday posted a post on Twitter saying that the price of Bitcoin seems to be too high.



Prices plummeted as the bitcoin bubble controversy overheated again in the wake of Minister Yelan's warnings and Musk's back and forth.



Bitcoin price, which was once close to $60,000, has plummeted 17% in a single day today, down to $47,000.