President Donald Trump on Thursday announced that he will announce on Friday the selection of the person to replace Jerome Powell as Federal Reserve chairman when his term ends in May.
Although the name has not been confirmed, reports suggest that President Trump’s pick may be former Federal Reserve Board member Kevin Warsh. Rumors that Warsh was a possible candidate accelerated after CNN’s Caitlan Collins reported Thursday afternoon that Warsh was seen at the White House.
Warsh’s appointment as chairman of the US Federal Reserve Board (FRB) will likely be good news for crypto investors, as he has generally made positive statements about cryptocurrencies. Now that Warsh is likely to succeed Jerome Powell in May, interest in Warsh’s stance on Bitcoin is growing.
So, what does Kevin Warsh say about cryptocurrencies? Will his appointment as Fed chairman be good news for crypto traders? Notably, Jerome Powell has argued that cryptocurrencies have no intrinsic value and has tightened regulations on cryptocurrencies. Warsh, on the other hand, has the opposite idea.
Kevin Warsh’s thoughts on Bitcoin
While Powell argued that cryptocurrencies have no value, Warsh argued that cryptocurrencies are “a sustainable store of value, just like gold.” He intended to criticize Jerome Powell, saying cryptocurrencies “do not offend me.”
“Charlie Munger (former Fed chairman) attacked Bitcoin,” Warsh said in a 2025 interview. “One of the reasons he called it evil is because it undermines the Fed’s ability to manage the economy.
“Or you can give discipline to the market or let it know that things need to be corrected. Bitcoin doesn’t make you nervous. Bitcoin doesn’t make me nervous.”
Also read: Kevin Warsh: 5 things to know about the front-runner for Fed chair ahead of Trump’s nomination
Below is a two-minute clip of the interview.
Kevin Warsh hasn’t always been positive about cryptocurrencies. In 2018, he reiterated his claim that Bitcoin was too volatile and unstable to become a real asset. However, he has since publicly changed his views and become more supportive of digital assets.
In a 2012 interview with CNBC Squawk Box host Andrew Ross Sorkin, Kevin Warsh said that Bitcoin “makes sense as part of a portfolio.”
“I think a lot about Bitcoin, and it’s certainly taking on new life as an alternative currency with each passing day,” he said at the time. “If you look at the strength of the euro, the strength of the pound, the strength of the renminbi, the strength of the Korean won, the strength of the Mexican peso, I don’t think we should be surprised at the strength of Bitcoin.”
