As soon as this statement was made, the price of Bitcoin rapidly plummeted from a high of $108,000 to $92,500.
Following this, another Federal Reserve official, Daly, spoke out, stating that cryptocurrency cannot be compared to gold and that there is still a long way to go before it can truly become 'currency.' Daly believes that cryptocurrency needs to be analyzed separately and should not be conflated with gold. She points out that cryptocurrency is inherently complex, potentially serving as currency or a trading tool, but also capable of frequent fluctuations like stocks, and cannot simply be defined as an asset similar to gold.
Daly's viewpoint differs slightly from Powell's. Powell has compared Bitcoin to virtual gold, believing it is primarily used for speculation, extremely unstable, and difficult to use as currency. In contrast, Daly's statements are more specific. She emphasizes that true currency should be linked to economic growth, rather than just rising due to market demand. She cites that the value of the dollar depends on economic performance and international competitiveness, not usage. For cryptocurrency to become true currency, it needs to possess this characteristic.
Although cryptocurrency has a long way to go before becoming currency, this has not stopped the market's enthusiasm for it. Since Trump took office, the price of Bitcoin has soared, breaking $100,000 on December 4, and stocks related to cryptocurrencies have also surged. Some traditional investors who only invested in stocks and bonds have begun to venture into the cryptocurrency field.
In addition, the Trump administration even appointed venture capitalist David Sachs to be in charge of cryptocurrency affairs, sparking market speculation that the U.S. might establish a Bitcoin reserve in the future. As the popularity of cryptocurrencies continues to rise, the market is full of expectations for their future development. Analysts predict that by the end of 2026, the price of Bitcoin could reach $225,000. This optimistic expectation has clearly attracted the attention of more and more investment giants, becoming a key driving force for the market.$BTC #比特币走势观察
