Jerome Powell, 16th Chairman of the Federal Reserve

Biography

Jerome “Jay” Powell is the 16th Chair of the Federal Reserve, he has also served as a member of the Federal Reserve Board of Governors since 2012. While Mr. Powell is not a Bitcoin advocate, his position as the Chair of the US Central bank offers a unique perspective into the potential monetary revolution at hand. 

Jerome Powell Bitcoin Quotes

• When asked about if there is a potential for a cryptocurrency to diminish or remove the need for a reserve currency he replied: “Things like that 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 more as an alternative to gold really, it’s a store of value, it’s a speculative store of value like gold. People, of course, have been talking about this since cryptocurrencies emerged. But we haven’t seen it, and that’s not to say we won’t see it. And if we do see it yes you could see a return to an era in the United States when we had many different currencies, the so-called national-banking era.” [source]
• “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.” [source]
• “People have been talking about this [removing a reserve currency] since cryptocurrencies emerged, and we haven’t seen it, but that’s not to say we won’t see it. But if we do see it, we may return to an era in the United States where we saw many different currencies in the national banking era.” [source]

Involvement with Bitcoin

• N/A

Media Sources

• Congressional Hearing on Libra  [source]

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