Part of the sell-off was catalyzed by Wednesday’s news that the Federal Reserve would not hold bitcoin in its reserve, prompting the world’s largest cryptocurrency to dip by 7

Bitcoin's price dipped Wednesday after Federal Reserve Chairman Jerome Powell said the central bank is not looking to hold the cryptocurrency.

Dennis Porter is now seeing the culmination of years of hard work and his single-minded dedication to the idea that bitcoin can serve as a national strategic asset.

Federal Reserve Chair Jerome Powell has ruled out the possibility of the central bank adding Bitcoin to its balance sheet, citing legal restrictions under the Federal Reserve Act. Powell addressed the issue during a Dec. 19 press conference, emphasizing that the Fed is not pursuing any legislative changes to alter this position.

Jerome Powell is a remarkable man. Whether you like him or not doesn’t change that. A quick look at his resume tells you this is a guy with a level of intelligence only few have ever attained. Now as head of the Federal Reserve,

Bitcoin mining stocks faltered after Federal Reserve Chair Jerome Powell declared that the central bank is not allowed to own Bitcoin, quashing prospects for President-elect Donald Trump’s strategic BTC reserve initiative.