📢 Trump does not need Powell and the Federal Reserve's approval to initiate Bitcoin strategic reserves!!

Last week, Federal Reserve Chairman Jerome Powell made it clear that the Federal Reserve would not touch Bitcoin, and any plans to store Bitcoin would not receive his support. This statement caused the cryptocurrency market to plummet immediately.

However, according to a report by Wu Blockchain, Trump does not need the Federal Reserve's approval to start accumulating BTC. He can directly issue an executive order to the U.S. Department of the Treasury to achieve this goal.

The Treasury controls the Exchange Stabilization Fund (ESF), which was established to stabilize the dollar and respond to financial crises.

Trump could issue an executive order directing the Treasury to use the ESF to purchase Bitcoin without needing Congressional approval.

Republican Senator Cynthia Lummis has proposed legislation to lock Bitcoin as a strategic asset within the U.S. financial system.

The legislative process is slow, but if successful, it would create a stable framework for Bitcoin.

Powell stated that the Federal Reserve would not purchase Bitcoin, which would require a new policy framework and legal amendments.

Trump's family crypto project World Liberty immediately responded to Powell's remarks by starting to buy altcoins.

Despite suffering losses, Trump is not worried.