Powell investigation may introduce ‘risk premia’ for Bitcoin: Analysts

Bitcoin’s non-sovereign narrative is gaining attention as reports of a probe into US Fed Chair Jerome Powell raise concerns over political pressure and markets.

Bitcoin’s role as a non-sovereign risk asset may benefit from renewed investor focus amid a criminal investigation into US Federal Reserve Chair Jerome Powell.

Federal prosecutors opened a criminal investigation into Powell over testimony he gave to a Senate committee about renovations to the Fed’s buildings.

In a Sunday statement, Powell said the investigation is “a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.” President Donald Trump has repeatedly attacked Powell and the Fed for refusing to grant his demands to cut interest rates.

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