U.S. Treasury Acknowledges Bitcoin as 'Digital Gold' in DeFi World

Dec 7, 2024, 02:37 PM

The U.S. Treasury Department has released a report in its Fiscal Year 2024 Q4 Report presentation, where it describes Bitcoin as 'digital gold,' emphasizing its primary use case as a store of value in a decentralized finance (DeFi) world. The report highlights Bitcoin's role in the cryptocurrency market, which has grown from $7 billion in 2015 to $2.4 trillion in 2024, with Bitcoin holding a significant position within this market. The Treasury's recognition of Bitcoin as a store of value in the DeFi world could signal a shift in how the cryptocurrency is perceived by financial regulators and institutions.