ICYMI – Federal Reserve Chair Powell says “We’re not allowed to own bitcoin”

Federal Reserve Chair Powell covered a lot of ground in his press conference today, with the emphasis on, of course, the outlook for monetary policy.

He was asked by a reporter though if he sees value in the U.S. government building a bitcoin reserve.

Powell was not enthusiastic:

• “We’re not allowed to own bitcoin”
• “The Federal Reserve Act says what we can own and we’re not looking for a law change. That’s the kind of thing for Congress to consider, but we are not looking for a law change at the Fed.”

Meanwhile, BTC has dipped under US $100K:

I think one thing is for certain. If Trump decides on a US Bitcoin reserve, the US will get a BTC reserve! Maybe DOGE can oversee it! Wouldn’t that be fun with the acronyms?

This article was written by Eamonn Sheridan at www.forexlive.com.