Gold

Digital Gold

<h4><strong>During a recent discussion, Powell explained, “Bitcoin is just like gold, only it’s digital.</strong></h4>
<p>It’s not a competitor to the US dollar; it’s for gold.” This statement caught a lot of attention. Especially among Bitcoin supporters who often call it “digital gold” for its ability to store value over time.</p>
<h5><strong>What Does “Digital Gold” Mean?</strong></h5>
<p>Gold has been valuable for thousands of years because it’s rare and doesn’t lose its shine, both literally and figuratively. BTC shares some of these qualities but exists only online. There’s a limited supply of Bitcoin—only 21 million will ever be created—and its value has grown as more people see it as a safe way to hold money. Calling Bitcoin “digital gold” is like saying it’s the 21st-century version of a treasure chest, but instead of gold coins, it’s powered by computers.</p>
<p>Powell also made it clear that BTC isn’t trying to replace the US dollar. The dollar is used for everyday things like shopping and paying bills, while Bitcoin is more like an investment or a long-term savings tool. Think of it like this: you wouldn’t use a gold bar to buy groceries, and most people aren’t using Bitcoin for that either.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">Jerome Powell, the sitting Chair of the Federal Reserve, just said <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> is digital gold…</p>
 <p>“Bitcoin is just like gold, only it’s digital. It’s not a competitor to the US Dollar… it is for gold.” <a href="https://t.co/5UlyTNJoFV" rel="noopener noreferrer nofollow">pic.twitter.com/5UlyTNJoFV</a></p>
 <p>— Geiger Capital (@Geiger_Capital) <a href="https://twitter.com/Geiger_Capital/status/1864396015844942033?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 4, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h5><strong>Why Does This Matter?</strong></h5>
<p>When someone as important as the head of the Federal Reserve talks about BTC, people pay attention. Powell’s words suggest that Bitcoin has carved out its place in the financial world, and it’s not going away anytime soon. For many, hearing a top financial leader compare Bitcoin to gold is like getting a stamp of approval.</p>
<blockquote class="twitter-tweet">
 <p dir="ltr" lang="en">Bitcoin isn’t just going to demonetize assets like gold and real estate. It’s going to expand its addressable market in a way most people still don’t grasp.</p>
 <p>Today, the majority of the global population isn’t incentivized to save. Bad money – constantly losing its value – creates… <a href="https://t.co/lb0By0z38s" rel="noopener noreferrer nofollow">pic.twitter.com/lb0By0z38s</a></p>
 <p>— Alpha Zeta (Rapha Zagury) (@alphaazeta) <a href="https://twitter.com/alphaazeta/status/1864356459162562917?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 4, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p>Powell’s comments may encourage more people to take Bitcoin seriously. As Bitcoin continues to grow, more companies, investors, and even governments might start treating it like digital gold too. And while it might not replace the dollar in your wallet, it could become a key part of how people store and protect their wealth.</p>
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener noreferrer nofollow"><img decoding="async" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/Alpha_website_leaderboard-banner-1.jpg"></a></p>
<div class="youtube-embed" data-video_id="9kfNWcJp-RA"><iframe title="Missed XRP? These Altcoins are Ready to Pump More (But act quick)" width="696" height="392" src="https://www.youtube.com/embed/9kfNWcJp-RA?feature=oembed&amp;enablejsapi=1" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
<p><strong>Disclaimer</strong><br> The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p>
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/jerome-powell-bitcoin-is-digital-gold/" rel="noopener noreferrer nofollow">Jerome Powell: Bitcoin Is Digital Gold</a> appeared first on <a href="https://www.altcoinbuzz.io" rel="noopener noreferrer nofollow">Altcoin Buzz</a>.</p>

Jerome Powell: Bitcoin Is Digital Gold

Altcoin Buzz

Other articles published on Dec 5, 2024

Solana ETF Faces SEC Scrutiny as Approval Timeline is Announced

Hedera, Stellar, And FXGuys ($FXG) Exhibit Potential To Lead Investors Into The Altcoin Season

Daily Crypto Market Highlights: Bitcoin Finally Hits $100K, Xion Launches, and Moo Deng Dips

Price Targets Revealed: Will BlockDAG Hit $1, Polkadot Reach $10, and Toncoin Climb to $7?

Worksport Bets Big on Bitcoin and XRP – Here’s Why

Philippines’ BSP Concludes Project Agila Pilot for Wholesale CBDC, Enhancing Interbank Payments

Join our free newsletter for daily crypto updates!