Powell: ”I don't want to be involved in government efforts to hold sway over Bitcoin”

The virtual currency Bitcoin fell 5% in New York trading, retreating to the $101,000 level. Bitcoin was down 5.22% as of 4:26 p.m. New York time on the 18th.
It fell to $101,175.48 (approximately 15.66 million yen). It had fallen to a low of $100,098 in New York trading, but had exceeded $108,000 the previous day and was at $110,000.
Federal Reserve Chairman Jerome Powell has made it clear that he does not want to be involved in any government efforts to hold large amounts of Bitcoin.
"We can't own Bitcoin," Chairman Powell said at a press conference after the interest rate cut meeting that day.
Regarding legal issues related to bitcoin ownership, Chairman Powell said, "That's something for Congress to consider, but the Fed is not pushing for legal change."
" This could be interpreted as meaning that the Fed will not be involved in any proposal for the government to establish a so-called strategic bitcoin reserve if President-elect Donald Trump takes office.
The Fed also cut interest rates by 0.25 percentage point today as expected, but reduced the size of its rate cuts next year to half of what it was three months ago.