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Janet Yellen, the Chair of the Federal Reserve, gave her testimony about the Federal Central Bank to the House of Financial Services Committee at Congress on Wednesday July 12th. During her hearing, an unidentified man held up a sign that said: “BUY BITCOIN” and it was broadcasted on television. Man of the Year Award goes to that guy! Bravo!

Here's a video!

As a result, according to CoinDesk, the value of bitcoin increased by 3.7% to about $2,418 as of 2:30 pm ET despite the recent drops in the crypto scene.

Federal Chair Janet Yellen was speaking during the first round of the semiannual monetary policy report to Congress and discussing the current state of the economy, while the unidentified Bitcoin advocate whose sign was visible on television, was expelled from the hearing room at Congress because House Committee rules were violated. CNBC reported that the Financial Services Committee staff had no idea who that guy was.

Furthermore, Tom Lee (Chief Financial Officer of Fundstrat) said that central banks will perhaps purchase digital currencies as a hedging strategy. That will certainly cause the value of cryptocurrencies to soar 📈, and that doesn’t only involve Bitcoin but many alt coins as well.