CandleFocus ? BREAKING: FED Chairman Jerome Powell Talks About Strategic Bitcoin Reserve in the US
2024-12-18
Author: Content Editor
The content discusses the idea of creating a Strategic Bitcoin Reserve in the United States. Jerome Powell, the Chairman of the Federal Reserve, stated that they are not allowed to own Bitcoin and are against changing the current laws. A strategic reserve is a stock of critical resources that can be used in times of crisis. It provides examples such as the U.S. Strategic Petroleum Reserve, which was established in 1975 to address disruptions in crude oil supply. The article mentions that there is debate about whether the President could create a Bitcoin reserve through executive powers or if an act of Congress would be necessary. It also suggests that the government could include seized Bitcoin from criminal activities in the reserve. The article mentions that President Trump previously suggested the creation of a BTC reserve but did not outline the legal process. It is unclear whether the government would purchase more BTC on the open market, with some advocates suggesting the use of funds from selling gold reserves.
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