Federal Reserve Chair Jerome Powell has shared his thoughts on Bitcoin, calling it “just like gold, except it’s digital.” He added, “Bitcoin is used as a speculative asset; it’s a competitor with gold, not the U.S. dollar.”

Powell’s comment highlights Bitcoin’s role as a store of value, similar to gold, rather than a replacement for the U.S. dollar.

Many investors already see Bitcoin as "digital gold," a way to protect wealth and hedge against inflation.

While some believe Bitcoin is too risky to compare to gold, Powell’s statement shows that it’s being taken more seriously as a financial asset. Bitcoin’s reputation as a digital alternative to gold keeps growing.

This might be a bullish news for $BTC