Sense

There are a lot of people freaking out right now about Jerome Powell’s statement on Wednesday and the market is reacting. 🤨

"We’re not allowed to own Bitcoin. The Federal Reserve Act says what we can own, and we’re not looking for a law change," Powell said. "That’s the kind of thing for Congress to consider, but we are not looking for a law change at the Fed."
                                                                                                        Jerome Powell

⚠️⚠️⚠️ Do not be confused ! A lot of people took this to mean that there will not be a bitcoin strategic reserve  ! ⚠️⚠️⚠️

The funding for the strategic reserve would not come from the Federal Reserve but instead would come from the US Treasury. The Treasury’s core responsibility is to safeguard the nation’s financial stability, fund government operations and foster economic growth.  

Mr Powell can regulate interest rates as needed , but can not stop the bitcoin strategic reserve ! 🤓🤓🤓

Hodler exploring web3. Solana airdrop farmer, bitcoin solo miner, Helium network miner, and Medium blogger. 🎭🎭🎭

while Powell manages interest rates, he doesn’t have authority over the Treasury’s strategic decisions. Stay calm and think critically! 🧠

School teacher 👩‍🏫 learning a crypto world 🌍

You are spot on Yana ! Powell had me pretty 😡 with that statement because ai knew it would be misinterpreted by many ! 😆😅