Reserve

Cryptocurrency

Jerome Powell

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 <p class="paragraph">With the constant fears of inflation and potential recessions that could significantly influence the job market, production, and large companies’ performance, it is not unusual for <a rel="noopener noreferrer nofollow" title="investors" href="https://thebittimes.com/tag/investors.html">investors</a> to look for alternative savings methods, like Bitcoin (BTC).</p>
 <p class="paragraph">When the times get rough, potential turmoil and uncertainty drive <a rel="noopener noreferrer nofollow" title="investors" href="https://thebittimes.com/tag/investors.html">investors</a> towards more orthodox commodities investments such as gold and silver, Bitcoin emerges as a modern-day alternative to centralized finance, immune to inflation, and a haven for traders.</p>
 <p class="paragraph">Federal Reserve Chair Jerome Powell, whose comments on the U.S. economy are thoroughly tracked by the trading community, recently made remarks in his interview with 60 Minutes that may prompt stock traders to turn their attention towards maiden crypto.</p>
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  <p class="paragraph">He said:</p>
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  <p class="paragraph">“In the long run, the U.S. is on an unsustainable fiscal path. And that just means that the debt is growing faster than the economy, essentially meaning that we are borrowing from future generations.”</p>
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 <p class="paragraph">This may prompt <a rel="noopener noreferrer nofollow" title="investors" href="https://thebittimes.com/tag/investors.html">investors</a> to look elsewhere when allocating their resources, as they may not rely on the U.S. dollar as a conventional transaction, opting to utilize their resources towards Bitcoin, which is more resilient.</p>
 <h2 class="wp-block-heading" id="h-is-bitcoin-better-than-gold-and-the-u-s-dollar">is Bitcoin better than gold and the U.S. dollar?</h2>
 <p class="paragraph">The inherent weaknesses of the traditional fiat system underline the robust fundamentals of Bitcoin. The genesis of BTC, as conceived by Satoshi Nakamoto, addresses the challenges and failures within the state and financial structures.&nbsp;</p>
 <p class="paragraph">Bitcoin is a censorship-resistant, decentralized, peer-to-peer hard currency with a finite supply and preprogrammed diminishing inflation. It provides financial sovereignty inclusion and serves as a solution to inflation.</p>
 <p class="paragraph">Notably, flagship crypto cannot be printed or curtailed, even by the most influential world superpowers or states, offering a resilient and incorruptible alternative in global finance.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="640" height="773" src="https://cdn.thebittimes.com/images/2024/02/05/7cd6d208b0677c847dccfb6f5633f25e.webp" alt="Comparison between gold, Bitcoin, and fiat currency. Source: Fidelity" class="wp-image-153201" srcset="https://cdn.thebittimes.com/images/2024/02/05/7cd6d208b0677c847dccfb6f5633f25e.webp 640w, https://cdn.thebittimes.com/images/2024/02/05/7cd6d208b0677c847dccfb6f5633f25e.webp 248w" sizes="(max-width: 640px) 100vw, 640px">
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   Comparison between gold, Bitcoin, and fiat currency. Source: Fidelity
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 <p class="paragraph">Looking at the comparison between the most popular options and the arguments behind each one, it is hard not to opt for Bitcoin, as it beats its competitors in most categories. However, it is essential to note that <a rel="noopener noreferrer nofollow" title="investors" href="https://thebittimes.com/tag/investors.html">investors</a> should conduct thorough research before allocating their resources.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/is-jerome-powell-advising-investors-to-buy-bitcoin-tbt78899.html">https://thebittimes.com/is-jerome-powell-advising-investors-to-buy-bitcoin-tbt78899.html</a></p>

Is Jerome Powell advising investors to buy Bitcoin?

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