6 hours ago
491
ARTICLE AD BOX
Federal Reserve Chairman Jerome Powell has broken silence on the broad comparison between Bitcoin, Gold and the US Dollar. Speaking at the Dealbook Summit, he revealed that Bitcoin is a speculative asset that has a closer correlation to Gold rather than the US Dollar.
Settling the Bitcoin Versus Gold Feud
The Fed Chair shared his take on this analogy while speaking with CNBC’s Andrew Ross Sorkin. His statements directly address Bitcoin proponents who believe the coin could displace the US Dollar. Rather than the tag it along USD, Jerome Powell said BTC’s major competitor is gold and not the greenback.
This statement is stirring a debate in the broader market on what this means for the strategic Bitcoin reserve plan President-elect Donald Trump is nursing.
This is a developing story, please check back for updates!!!
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
English (US) ·