In the context of President Trump's proposal to establish a 'National Strategic Bitcoin Reserve', Federal Reserve Chair Powell reiterated in his latest public speech that the Federal Reserve cannot hold Bitcoin. This statement has attracted widespread attention in the market, impacting the price of Bitcoin and prompting many to contemplate the future of cryptocurrency in the United States.

After the Federal Reserve announced a 25 basis point cut in the benchmark interest rate and lowered expectations for rate cuts next year, Powell made it clear that under current law, the Federal Reserve is not permitted to hold Bitcoin and cannot participate in the establishment of a Bitcoin reserve. This issue should be discussed and decided by Congress, and the Federal Reserve currently has no interest in seeking to change this status quo. This means that even if there are legislative proposals to change the functions and legal framework of the Federal Reserve, it is not an easy task.

After this news was released, the market reacted quickly,