Fed Chair Jerome Powell Is Correct: Bitcoin Is In Competition With Gold, Not The Dollar
Briefly

"People use bitcoin as a speculative asset - it's like gold. It's just like gold, only it's virtual, it's digital. People are not using it as a form of payment or as a store of value. It's highly volatile. It's not a competitor for the dollar, it's really a competitor for gold."
"When I do spend bitcoin, which I do every weekend when I buy beef at the farmers market, it's not the bitcoin from my long term savings that I'm spending. I'm taking dollars from my bank account, buying bitcoin on Cash App, and directly sending that bitcoin to the farmer using the Lightning Network."
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