FED: Bitcoin $BTC cannot become an official reserve asset
Fed Chairman Jerome Powell asserted that the Federal Reserve cannot own Bitcoin due to strict legal regulations, despite the volatility of the cryptocurrency market.
Bitcoin is not on the Fed's balance sheet
In a recent press conference, Mr. Powell stated that the law only allows the Fed to hold safe assets such as US government bonds. He emphasized:
"We are not allowed to own Bitcoin. Changing this depends on Congress, and the Fed has no plans to propose any adjustments."
Powell continues to express caution towards Bitcoin, stating that it is an unstable speculative asset and not suitable for storing value.
President Trump and the national Bitcoin plan
In contrast, President-elect Donald Trump proposed a bold strategy of establishing a national Bitcoin reserve fund, using Bitcoin assets seized from criminal cases as the foundation.
This plan immediately pushed Bitcoin's price above $100,000, creating a wave of optimism in the market. Meanwhile, the appointment of David Sacks as the strategist for AI and cryptocurrency at the White House shows Trump’s strong commitment to promoting digital assets.
Legal barriers and the future of Bitcoin
Despite proposals like the Bitcoin Act from Senator Cynthia Lummis aiming to integrate cryptocurrency into the financial system, there are still many objections due to concerns about transparency and the risk of abuse.
Meanwhile, the Fed maintains a conservative stance, prioritizing the development of central bank digital currency (CBDC) — a more tightly controlled solution aimed at meeting national economic goals.
Conclusion
The future of Bitcoin in US financial policy still faces many challenges. However, the latest developments indicate that this type of asset is gradually changing the way leaders view the potential of cryptocurrency in the modern economy.