🇺🇸 US Federal Reserve Chair Jerome Powell dismissed the notion that Bitcoin symbolizes a lack of confidence in the US dollar.

“People aren’t using it as a form of payment or a store of value. It’s highly volatile. It’s not a competitor to the dollar—it’s more like a competitor to gold,” he stated.

Powell also mentioned that he is open to crypto companies working with banks, provided they don’t compromise the “health and well-being” of the financial system.

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