((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
Dec. 18 – **Cryptocurrency and blockchain-related stocks fall late Wednesday afternoon after Fed Chairman Powell’s comments** “We’re not allowed to hold bitcoin,” said Powell said at a press conference following the latest FOMC meeting
** Regarding legal issues related to holding bitcoin, he said “that’s the kind of thing Congress needs to look at, but we’re not looking to change the law at the Fed”
**Bitcoin BTC=, the world’s largest cryptocurrency, was down about 5% around $101,000, while the smaller crypto Ether ETH= lost 6% to $3,698** Shares of BTC hoarder MicroStrategy MSTR.O fell ~8%, and cryptocurrency exchange Coinbase Global
COIN.O fell ~9%
**Cryptocurrency miners fall: Riot Platforms
RIOT.O
%, Mara Holdings
MARA.O
~11%, Core Scientific
CORZ.O
10%
** Shares of retail trading platform Robinhood Markets HOOD.O fell more than 10%
** ProShares Bitcoin Strategy ETF BITO.P and iShares Bitcoin Trust ETF IBIT.O are down ~5%
**BTC rallied to a record high of $108,379, amid growing hopes for a strategic reserve and a more favorable regulatory environment for cryptocurrencies under Donald Trump
** Meanwhile, stock markets extended their losses in late trading, with all three major indexes falling more than 2%.N
