As an analyst with over two decades of experience in the financial markets, I find Jerome Powell’s remarks at the Dealbook Summit to be both insightful and intriguing. Having closely followed the Bitcoin vs Gold debate for several years, it is refreshing to finally hear a high-ranking official acknowledge the correlation between these two assets.
At the Dealbook Summit, Federal Reserve Chairman Jerome Powell spoke out about the relationship between Bitcoin, Gold, and the U.S. Dollar. In his comments, he suggested that Bitcoin shares more similarities with Gold as it is considered a speculative asset, rather than having a strong connection to the U.S. Dollar.
Settling the Bitcoin Versus Gold Feud
Jerome Powell, the Federal Chair, expressed his viewpoint regarding a comparison he made during an interview with CNBC’s Andrew Ross Sorkin. Specifically, he was addressing Bitcoin supporters who suggest that Bitcoin could potentially replace the U.S. Dollar. In contrast to this perspective, Powell stated that Bitcoin’s primary rival isn’t the U.S. Dollar, but rather gold.
This statement has sparked discussion across various sectors about potential implications for Trump’s proposed strategy regarding Bitcoin reserves as President-elect.
This is a developing story, please check back for updates!!!
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2024-12-04 22:41