Federal Reserve Chair Compares Bitcoin to Digital Gold

Federal Reserve Chair Jerome Powell likened Bitcoin to ‘digital gold’ during the New York Times DealBook Summit, highlighting its role as a speculative asset rather than a currency used for transactions. His statement, while potentially influencing market discussions and investor perception, did not trigger any immediate regulatory changes from the Federal Reserve. Powell’s comparison emphasizes Bitcoin’s growing narrative as a store-of-value alternative to traditional precious metals, similar to the way gold has long been viewed.