Jerome Powell Dismisses FED’s Bitcoin Ownership

Federal Reserve Chair Jerome Powell confirmed the Fed’s inability and lack of intent to hold Bitcoin, emphasizing any legal changes would rest with Congress. His remarks follow discussions of a U.S. Strategic Bitcoin Reserve proposed by President-elect Donald Trump, potentially funded by seized Bitcoin and Treasury assets. Bitcoin, which has surged past $100,000 on optimism over Trump’s pro-crypto stance, dipped after Powell’s comments. Meanwhile, skepticism persists among Fed officials about Bitcoin’s volatility and utility. Trump plans to appoint crypto advocates to key positions, fueling speculation about the future of U.S. cryptocurrency policies.