““If a cryptocurrency system were to become prevalent throughout the globe, would that diminish or remove the need for a reserve currency in the traditional sense?” “Things like that are possible. But we really haven’t seen them. We haven’t seen widespread adoption. I mean, 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.” - Jerome H. Powell

Rephrased:

Question: If hyperbitcoinization would occur, would that make the federal reserve obsolete?

Answer, by the chairman of the Fed: Yes.”

- #dergigi

#plebchain #btc #bitcoin #bitcoinonly #orangepill #sats #stacksats #hodl