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flag Fed Chair Jerome Powell says Bitcoin is too volatile to compete with the U.S. dollar as currency.

flag Federal Reserve Chair Jerome Powell stated that Bitcoin functions as a speculative asset similar to gold but lacks the stability to compete with the U.S. dollar as a currency. flag Powell highlighted Bitcoin’s volatility and its limited use as a primary payment method. flag He also noted the Fed’s lack of responsibility in regulating cryptocurrencies and emphasized the U.S. economy’s strong position, allowing for a cautious approach to interest rates.

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