FED's Chair testifies "crypto appears to have some staying power" in the U.S. economy

10 months ago

The Federal Reserve Chair Jerome Powell a recent Congressional hearing said that he thinks digital assets (crypto) are showing sustainability as an asset class in the United States of America, FED's chair Powell made the comment June 21, during his delivery of the Federal Reserve's Semi-Annual Monetary Policy Report to the House Committee on Financial Services.

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He was asked if he acknowledged that crypto or digital assets "has staying power in the U.S. economy?" by congressman Warren Davidson when he replied that crypto appears to have some staying power, What is Staying Power in financial?, Staying Power is the ability of an investor to stay in the market and not to sell out of a position when an investment has fallen in value. And Bitcoin and the crypto market have fallen in value since the dip from their all-time highs in 2021 when Bitcoin hit $69k.

The recognition of cryptocurrencies staying power emphasizes the importance of fostering an environment that encourages innovation and entrepreneurship. By embracing emerging technologies like blockchain and cryptocurrencies, the United States of America's economy can position itself as a global leader in the digital financial landscape. And remember crypto will always win in the long run because crypto is here to stay, so keep building just like CZ always says. Crypto/Bitcoin is freedom, sooner or later everyone in the world will embrace it because everyone wants freedom or to be financially free.