Jerome Powell: Federal Reserve will not hold Bitcoin
On Dec. 19, Beijing time, Federal Reserve Chairman Powell stated after the December meeting that the Fed does not intend to include Bitcoin on its balance sheet. Following this announcement, Bitcoin experienced a sharp decline of 5.3%, dropping to US$100,752 after surpassing US$108,000 for the first time, setting a record.
Powell mentioned, "We are not allowed to own Bitcoin." The Federal Reserve Act stipulates what the Fed can own, and the Fed is not seeking to change that; this is a matter for Congress to consider, but the Fed does not wish to amend the law.
In January 2025, Trump will officially be sworn in as the new President of the United States. During the campaign, Trump made several public statements regarding the cryptocurrency market and regulation, explicitly stating his intention to make the United States "the crypto capital of the planet."
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