Either Powell is shockingly ignorant of basic economic concepts, or he's just repeating empty talking points to criticize bitcoin. I don't think he'd be Fed Chief if he was a complete moron. Same with Yellen. The question is why are they repeating worn out criticisms that don't stand up to any scrutiny? There are actual concerns over crypto networks and real risks they could talk about. Are they just too lazy to learn about crypto? I think they don't care at all. They believe the Treasury and the Fed can still do their jobs if bitcoin is worth $1 or $1 million. Powell is corrct in that bitcoin is eating the gold market right now. The stock market could very well come next, certainly millennials prefer crypto over stocks (except Gamestop?). But I don't really think the Fed will care if that happens either. They'll just keep printing dollars and buying treasury bonds. Bottom Line: I don't think the Fed gives a crap about bitcoin.