. Fed Chair says Bitcoin is a Store of Value, and will never go back to gold standard- he is literally saying DROPGOLD- he should be in next DROPGOLD campaign commercial pic.twitter.com/U3Bt7RN4O6— Simon (@Simon23105395) July 11, 2019
Powell was asked whether a crypto-based system can become prevalent throughout the globe and remove the need for a reserve currency.
"Things like that [global crypto adoption by governments] are possible, but we really haven't seen them, we haven't seen widespread adoption. Bitcoin is a good example. Really almost no one uses bitcoin for payments — they use it as an alternative to gold. It's a store of value, a speculative store of value, like gold," Powell said