As of publication time, complete crypto market capitalization is over $60 billion greater than when President Donald Trump declared he had “no intention of firing him.”
Markets instantly pumping in afterhours after Trump says he “has no plans to fire Powell” and simply needs Powell “more active” on charges. pic.twitter.com/lAzo4Tj7pl
— Meet Kevin😇 (@realMeetKevin) April 22, 2025
In keeping with Trump’s senior advisors, the president would have had excessive issue firing Powell with out enough trigger anyway. As such, efforts to oust him have ended, with Powell remaining the lead US central banker, and Trump now insisting that he by no means had any intention of firing him within the first place.
“Never did,” Trump stated yesterday afternoon. “The press runs away with things. No, I have no intention of firing him.”
Bitcoin pumps on Powell’s non-firing
Reactions from crypto commentators have been typically optimistic. Many acknowledged Powell’s optimistic impact on BTC.
Certainly, Powell has presided over the world’s largest central financial institution throughout a historic bull run in crypto asset costs. Since Powell turned chairman on February 5, 2018, crypto’s complete market cap has rallied 10X from $290 billion to $2.9 trillion in the present day.
Backdating his profession to Powell’s November 2, 2017, nomination by Trump would increase that determine to 15X.
Regardless of Powell serving as the general public face of the centralized banking system that Satoshi Nakamoto designed Bitcoin to problem, his actions haven’t appeared to impede BTC’s worth efficiency.
