The Federal Reserve of the United States has officially stated its unwillingness to participate in the purchase of Bitcoin, reflecting a steady approach to digital asset management.
Refusal of the Federal Reserve to Purchase Bitcoin
Fed Chairman Jerome Powell confirmed that the Federal Reserve does not intend to acquire Bitcoin and lacks the authority to do so. This statement follows President Trump's establishment of a Strategic Bitcoin Reserve managed by the Treasury.
Establishment of Strategic Bitcoin Reserve
Trump's executive order empowered the Treasury to manage the Strategic Bitcoin Reserve, allowing it to retain Bitcoin obtained through forfeitures, focusing on preservation rather than market involvement.
Impact on the Crypto Market
The Federal Reserve's reluctance to engage in cryptocurrency operations helps preserve market stability. The Treasury's focus on strategic asset management ensures no influence on market liquidity, preventing sudden price fluctuations in Bitcoin.
Thus, the Federal Reserve's position regarding Bitcoin and digital asset management remains clearly defined, emphasizing asset preservation without direct market impact.
