Federal Reserve Chair Jerome Powell has ruled out the possibility of the central bank adding Bitcoin to its balance sheet, citing legal restrictions under the Federal Reserve Act. Powell addressed the issue during a Dec. 19 press conference, emphasizing that the Fed is not pursuing any legislative changes to alter this position.

Bitcoin's price dipped Wednesday after Federal Reserve Chairman Jerome Powell said the central bank is not looking to hold the cryptocurrency.

The price of Bitcoin is testing $100,000 after Fed Chair Jerome Powell issued a statement on the central bank’s ability to hold BTC. Powell took questions from reporters after announcing the Fed has lowered its key interest rate by a quarter percentage point in its third consecutive reduction.

Federal Reserve Chair Jerome Powell stated the central bank does not wish to partake in government efforts to establish a bitcoin reserve. While speculative values rose post-election, Powell, alongside European officials,

Powell said that the Federal Reserve Act does not allow the central bank to hold Bitcoin, leaving the decision to Congress.

Bitcoin dropped for the fourth day, influenced by Jerome Powells hawkish comments and a 25-basis-point Fed rate cut. Cryptos faced a sharp correction, with significant declines across major altcoins.

The Fed has implemented another 0.25% interest rate cut with Jerome Powell highlighting economic stability as guidance for future cuts

Federal Reserve Chair Jerome Powell said on Wednesday that the U.S. central bank has no desire to be involved in any government effort to hold large amounts of bitcoin. "We’re not allowed to own bitcoin,

Dennis Porter is now seeing the culmination of years of hard work and his single-minded dedication to the idea that bitcoin can serve as a national strategic asset.

Part of the sell-off was catalyzed by Wednesday’s news that the Federal Reserve would not hold bitcoin in its reserve, prompting the world’s largest cryptocurrency to dip by 7

Jerome Powell is a remarkable man. Whether you like him or not doesn’t change that. A quick look at his resume tells you this is a guy with a level of intelligence only few have ever attained. Now as head of the Federal Reserve,