<ul><li>U.S. Federal Reserve Chairman Jerome Powell clarified that the Fed cannot own Bitcoin, hindering President-elect Donald Trump's plan for a national strategic Bitcoin reserve.</li><li>Bitcoin's price dropped below $100,000 following Powell's comments and is currently valued at $96,847, down 6.2% on the day.</li><li>Powell stated that any potential changes to allow BTC ownership would require Congressional action.</li><li>Former President Donald Trump supports a bill proposed by Wyoming Senator Cynthia Lummis, which suggests buying 5% of the total Bitcoin supply for a strategic reserve, but it's uncertain if the bill will gain broad support.</li></ul>

Bitcoin Slides Towards $96,000 After Fed Chair Powell Speaks Against Trump’s Strategic BTC Reserve Plan

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