Federal Reserve Governor Christopher Waller stated that crypto has become integrated into the payment and financial system, marking a notable shift in regulatory perspective.
This acknowledgment comes as institutional adoption accelerates and Bitcoin’s market capitalization reaches levels that place its pseudonymous creator among the world’s wealthiest individuals.
Regulatory Stance Evolves Amid Market Maturation
Waller’s comments represent a departure from the cautious stance US regulators have historically maintained toward digital assets.
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Historically, the Federal Reserve has approached cryptocurrencies with skepticism. Concerns have centered on volatility, illicit finance risks, and consumer protection.
The governor’s characterization of cryptocurrency as woven into the financial system’s fabric suggests recognition of its established presence rather than endorsement. This assessment reflects the reality that major financial institutions now offer cryptocurrency custody services, trading desks, and investment products.
Market data support this integration narrative. Bitcoin’s market capitalization has grown substantially, with the asset reaching price levels that have generated significant wealth effects.
According to Arkham Intelligence, the holdings attributed to Bitcoin creator Satoshi Nakamoto increased by over $2 billion in 24 hours.
The total estimated value now stands at $124.25 billion. This figure would rank the anonymous founder as the 15th-wealthiest person globally. The valuation surpasses the Walton family, Michael Bloomberg, and Bill Gates.
The Satoshi Nakamoto holdings, estimated at approximately 1.1 million BTC mined during Bitcoin’s early days, have remained dormant since 2009. While their existence represents a theoretical supply overhang, the prolonged inactivity has led market participants to largely discount the probability of these coins entering circulation.
Meanwhile, Bloomberg analysts have projected that profits from gold investments may flow into Bitcoin, indicating a potential reallocation among stores of value. This assessment reflects Bitcoin’s positioning as a digital alternative to traditional safe-haven assets, particularly among younger investors and technology-oriented institutions.