Bitcoin gains appeal as alternative asset amid political uncertainty

Bitcoin is being re-evaluated as a decentralized asset that does not require government guarantees amid a U.S. federal investigation into Federal Reserve Chair Jerome Powell, Cointelegraph reported. The media outlet noted that the probe into Powell could introduce short-term political risk to broader risk assets, including U.S. stocks. However, this political uncertainty may stimulate demand for Bitcoin, as the narrative for decentralized assets strengthens when the credibility of the U.S. dollar and the independence of the central bank are tested. The report added that if political intervention becomes more structured, Bitcoin's value could become even more prominent. Additionally, on-chain analyst Will Clemente commented that the current situation, characterized by threats to the Fed's independence, soaring gold prices, and geopolitical risks, is precisely the reason Bitcoin exists.