Jerome Powell compares Bitcoin to gold, dismissing it as a threat to the U.S. dollar due to its speculative nature and changing value.
Powell described BTC as increasingly resembling gold rather than the U.S. dollar, emphasizing its potential as a store of value rather than a traditional currency.As expected, Powell further addressed concerns regarding Bitcoin’s potential threat to the U.S. dollar and the Federal Reserve’s authority.
Powell emphasized that while Bitcoin’s role as a digital asset continues to evolve, its volatility limits its reliability in mainstream financial transactions.Interestingly, P At the July Bitcoin conference, Trump emphasized the need for the U.S. to become a crypto superpower, or risk falling behind nations like China.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Fed Chair Jerome Powell to Address Interest Rate Cut ExpectationsU.S. Federal Reserve Chair Jerome Powell is set to speak with key jobs data due Friday, during a 'quiet' period for Fed officials before the December 17-18 meeting. Investors expect a third consecutive interest rate cut, influenced by comments from Fed Governor Christopher Waller.
Read more »
Jerome Powell Appears Defiant In Face Of Prospect Of Trump Asking Him To ResignMarita Vlachou is a breaking news reporter for HuffPost based in London, United Kingdom.
Read more »
Bitcoin ETF inflows soar as price nears $90KBitcoin shatters records following Trump’s victory, with Bitcoin ETFs, MicroStrategy, and Coinbase reaching unprecedented highs.
Read more »
Here’s why Bitcoin’s accumulation stats suggest $77K may be nextSoon after the U.S presidential elections, the crypto market turned bullish, allowing Bitcoin [BTC] to hit an all-time high on the charts...
Read more »
Bitcoin outlook: Why analysts believe BTC is ‘far, far away’ from a market topBitcoin’s [BTC] long-term outlook is strong, with analysts predicting future gains despite short-term weakness.
Read more »
Why Bitcoin’s record high realized cap is good news for holdersBitcoin's realized cap hits an all-time high, indicating increased investor confidence. What do key metrics say?
Read more »