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Fed Chair Powell says bitcoin is like digital gold (www.theblock.co)
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The original post: /r/cryptocurrency by /u/DaRunningdead on 2024-12-04 21:18:35.

U.S. Federal Reserve Chair Jerome Powell drew comparisons to bitcoin and gold as the cryptocurrency's value closes in on $100,000.

"People use bitcoin as a speculative asset, right? It's like gold," Powell said on Wednesday during The New York Times' DealBook Summit. "It's just like gold only it's virtual, it's digital."

Bitcoin is not used as a form of payment and is really volatile, Powell said.

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