The price of Bitcoin is testing $100,000 after Fed Chair Jerome Powell issued a statement on the central bank’s ability to hold BTC. Powell took questions from reporters after announcing the Fed has lowered its key interest rate by a quarter percentage point in its third consecutive reduction. When asked if he sees any value […]
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U.S. Federal Reserve Chair Jerome Powell thinks Bitcoin (BTC) is more akin to gold than the US dollar. At the New York Times DealBook summit this week, Powell was asked whether the public’s interest in BTC represents a lack of faith in the US dollar. Says the Fed chair, “I don’t think that’s how people […]
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US Federal Reserve Chair Jerome Powell also dismissed the idea that people see Bitcoin as a symbol of a lack of faith in the US dollar.
United States Federal Reserve Chair Jerome Powell has reiterated his view that Bitcoin is a direct competitor to gold and isn’t a threat to the US dollar.
“People use Bitcoin as a speculative asset. It’s just like gold, only it’s virtual, it’s digital,” Powell said at The New York Times-hosted DealBook Summit in New York on Dec. 4.
The Federal Reserve Chair has made these comments before, comparing Bitcoin (BTC) to gold during an event hosted by the Bank for International Settlements in March 2021 when Bitcoin was trading at just $58,200.
Cryptocurrencies like Bitcoin are highly speculative, and “they’re not backed by anything,” Powell said at the time.
United States Treasury Secretary Janet Yellen supposedly convinced Federal Reserve Chair Jerome Powell into killing the project, the former Meta executive said.
The former head of Meta’s (then Facebook’s) blockchain payments solution, Diem, has revealed the project ended after insurmountable political pressure from United States regulators.
“There was no legal or regulatory angle left for the government or regulators to kill the project. It was 100% a political kill—one that was executed through intimidation of captive banking institutions,” Diem co-creator David Marcus said in a Nov. 30 X post.
Meta’s Diem (formerly known as Libra) aimed to develop a decentralized payments network with a US dollar-integrated stablecoin when it launched in June 2019. It received support from the likes of Visa and PayPal — where Marcus previously served as President.
After nearly two weeks of explosive gains, crypto prices briefly cooled on Thursday and into Friday, possibly due to a speech delivered by U.S. Federal Reserve Chair Jerome Powell. Powell spoke in Dallas on Thursday and struck a somewhat ambiguous tone about future US monetary policy choices. He continued to emphasize that the Fed views […]
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Bitcoin’s price tumbled after the United States Federal Reserve Chair Jerome Powell cast doubt on an interest rate cut in December.
The Bitcoin market fell almost 3% after the United States Federal Reserve hinted that further interest rate cuts might not be coming, contrary to expectations from those in the crypto and wider financial market.
“The economy is not sending any signals that we need to be in a hurry to lower rates,” said Federal Reserve Chair Jerome Powell during a speech in Dallas, Texas, on Nov. 14.
Powell’s statement comes after two recent rate cuts in September and November of 50 and 25 basis points, respectively. The next Fed interest rate decision is set to be announced on Dec. 18.
Donald Trump reportedly appears to have no problem with Federal Reserve Chair Jerome Powell serving the remainder of his term until May 2026. Trump appointed Powell during his first term but the two clashed several times leading to the then 45th US president threatening to remove the Fed Chair from office. Powell kept his post […]
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U.S. Federal Reserve Chair Jerome Powell anticipates future monetary policy will evolve into a more “neutral stance.” While speaking at an economics event in Nashville earlier this week, Powell said the economy looks “strong overall.” He noted there were roughly equal levels of risk associated with the Fed’s goals of reducing inflation and keeping the […]
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Bitcoin surprised traders by opening the week in the red, and the Federal Reserve’s announcement about future rate cuts failed to reverse the downtrend.
Bitcoin opened the week with a sell-off to $63,000, and the intra-day trend was not impacted by United States Federal Reserve Chair Jerome Powell’s statement that additional rate cuts were part of the Fed’s plan. Despite the correction, Bitcoin price remains on track to close Q3 with positive returns.
On Sept. 30, Bitcoin (BTC) fell from a high of $65,634, dropping approximately 4% to an intraday low of $63,049, according to data from Cointelegraph Markets Pro and TradingView. At the time of publication, Bitcoin price was exchanging hands at $63,344, down 3.6% over the last 24 hours.
BTC/USD hourly chart. Source: TradingView
A widely followed crypto analyst says that the digital assets industry will continue to thrive despite the Federal Reserve cutting interest rates. In a new video update, Guy Turner, the host of Coin Bureau, tells his 2.52 million YouTube subscribers that small-cap stocks and crypto assets will continue to surge as the Federal Reserve continues […]
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