Express

BTC Takes a Hit After Fed's Powell Rules Out Bitcoin

Mary Liu

Summary: BTC experienced a momentary setback after Federal Reserve chair Jerome Powell stated that the crypto would not be added to the treasury.  There is a debate about whether the incoming Trump administration will build a Bitcoin reserve. When asked about this issue at a press conference, Powell said: "We are not allowed to hold Bitcoin." As for ...

BTC experienced a momentary setback after Federal Reserve chair Jerome Powell stated that the crypto would not be added to the treasury. 

There is a debate about whether the incoming Trump administration will build a Bitcoin reserve. When asked about this issue at a press conference, Powell said: "We are not allowed to hold Bitcoin."

As for the legal issues of holding Bitcoin, he said: "This is something for Congress to consider, but we have no intention of seeking to change the law."

Bitcoin fell 5.00% during the day and is now trading at $100,824 per coin.

Last Update:

Tags: ,,
Link: BTC Takes a Hit After Fed's Powell Rules Out Bitcoin   [Copy]
Next:

Related Articles

  • From Data Rights to Digital Property: Whistleblower Brittany Kaiser on Blockchain, RWA,... 2 days ago
  • The Base Chain's Ascent: How Deep Coinbase Integration and JPMorgan's Pilot Are Reshapi... 8 days ago
  • Tether in Trouble? U.S. Senate Just Passed a Law That Could Dethrone the $155B Stableco... 11 days ago
  • Justin Sun's Nasdaq Gamble: How Six Years Forged Ties with the Trump Family 12 days ago
  • The Crypto IPO Wave: From Fringe to Front Page 15 days ago

    • You need to login to comment.