In a surprise press conference this Wednesday, Jerome Powell announced that the Federal Reserve will now hold Bitcoin as a reserve asset. The snap decision came after Jerome Powell met with famed Virgin Galactic shuttle ticket holders, the Winklevoss Twins.
After convincing successful investor Dave Portnoy to buy bitcoin weeks ago, the Winklevoss twins decided to pitch the cryptocurrency to Chairman Jerome Powell as a hedge against inflation.
“With Bitcoin backing dollars, inflation is essentially impossible,” said Tyler
“That’s right, and also Facebook was our idea,” added Cameron.
The stunning announcement came just after Wednesday’s 430 point gain in the Dow Jones Industrial average.
“Did you know there are only 21 million of them?!” exclaimed Powell, “and these halvings add more scarcity to each coin!”
The brief press conference concluded with the Chairman announcing that the Reserve would not be thinking about raising rates in the near term. Following the press conference, the Chairman was spotted attempting to set up the Reserve’s coinbase wallet.