Powell: Bitcoin Rivals Gold, Not the Dollar

Federal Reserve Chair Jerome Powell reaffirmed his stance that Bitcoin functions as a competitor to gold, not the US dollar, citing its speculative nature and volatility. He dismissed the notion that Bitcoin reflects a lack of faith in the dollar. Powell's comments follow Bitcoin's recent price surge, partly attributed to Donald Trump's presidential win and subsequent cabinet appointments viewed as pro-crypto. Despite this, Powell maintains Bitcoin is not a payment method or store of value comparable to the dollar. His position remains unchanged even with Bitcoin's price increase exceeding that of gold.📊 For detailed charts and full technical analysis, visit:👉 TradingView Profile - BullBearInsightsStay ahead of the market and access expert insights to guide your trading decisions! Hosted on Acast. See acast.com/privacy for more information.