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Fed’s Powell Just Stepped Aside for Bitcoin

Jay Powell: The Fed is in no hurry to create a digital competitor to Bitcoin.

Bitcoin is already the leader in early adoption.

Powell’s actions in stepping aside will only further cede the market to Bitcoin.

https://www.cnbc.com/2021/03/22/cryptocurrencies-are-not-useful-stores-of-value-says-feds-powell.html



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2 Comments

  1. With all this news lately (Visa, Fed, etc.) — Bitcoin ought to be soaring. But it’s not. We are all missing something.

    Either adoption is not what we think (there’s no volume.. nobody cares.. everyone who wants in is currently in) — or more people are content to sell at these low prices than we think……

    I believe it’s the first, since the volume has been WAY low recently.

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