At the DealBook Summit, Federal Reserve Chair Jerome Powell reiterated that Bitcoin is a speculative asset akin to digital gold and poses no threat to the US dollar. While acknowledging Bitcoin's volatility and limited use as a payment method, Powell stated, "It’s not a competitor for the dollar. It’s really a competitor for gold." This echoes his 2021 comments on Bitcoin’s speculative nature, which remains “not backed by anything.” Powell defended the Fed’s independence and highlighted consumer protection as key to crypto regulations, even as Trump reshapes his cabinet with crypto advocates like the new SEC Chair Paul Atkins. Do you think Powell holds BTC? Source: Cointelegraph
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