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The US will not have a Bitcoin reserve, at least for now

Earlier, information appeared that the Trump administration may create some kind of state shares of this asset

Dec 19, 2024 10:21 136

The US will not have a Bitcoin reserve, at least for now  - 1

The US Federal Reserve System (FRS), which serves as the country's central bank, has no desire to own Bitcoin reserves. This was announced by Federal Reserve Chairman Jerome Powell at a press conference after the last meeting of the financial regulator's steering committee this year.

He was asked to comment on the information that the new administration of President-elect Donald Trump may create some kind of state shares of this asset. “We are not allowed to own Bitcoin. We do not seek to change the legislation in this regard. Such issues should be considered by Congress“, Powell said.

On December 5, the price of Bitcoin reached a new historical peak, exceeding 100,000 USD. Trump has previously said that Washington should pay close attention to cryptocurrency, otherwise other countries, primarily China, will dominate this market. The newly elected president is considering creating a “strategic reserve“ of bitcoins, which will become part of the Treasury Department's stabilization fund.

On the eve of the presidential election, Trump jokingly said that if he wins, he may order the national debt, which exceeds 35 trillion USD, to be paid off with cryptocurrency. In September, he paid with bitcoins for the first time, buying hamburgers for his supporters while visiting the New York crypto bar PubKey.