In a remarkable admission during his testimony to Congress, Federal Reserve Chair Jerome Powell admitted that bitcoin is used as an alternative to gold, conceding that BTC is a store of value. He said before the Senate:

“Really, almost no one uses bitcoin for payment, they use it more as an alternative to gold really. It’s a store of value; it’s a speculative store of value like gold.”

Previous articleBreaking: Donald Trump Bashes Crypto, Says He's No Fan of Bitcoin
Next articleStock Market Strategist: 'Fed Needs to Do Nothing' with Red Hot Economy