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Scott Bessent: “The average sell off [of Bitcoin] has been about 58%.”

Featuring: Scott Bessent, Republican | Secretary of the Treasury | National

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Published | Video Starts at 25:09

Any comments? Yeah, Joe, the history, if we take bitcoin as a proxy for crypto, Bitcoin has a history of volatile movements. The we went back and looked, I believe The average sell off [of Bitcoin] has been about 58%. and we're coming into that zip code right now. And crypto holders are mostly in it for the long term. They are used to the volatility. (25:09–25:13)

CLAIM

Asserts that the average decline in Bitcoin's value during sell-offs is approximately 58%.

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