Bitcoin Price Drops As Jerome Powell Says Federal Reserve ‘Not Allowed’ To Hold BTC

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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 it has lowered its key interest rate by a quarter percentage point in its third consecutive reduction. When asked if he sees any value in the Fed building a Bitcoin reserve, Powell said current laws make it impossible. “We’re not allowed to own Bitcoin. The Federal Reserve Act says what we can own and we...