An emerging legal dispute questions the stability of the Federal Reserve’s long-held independence

Bitcoin proponents believe any disruption at the central bank could prove favorable. On April 9, Supreme Court Chief Justice John Roberts reversed a lower-court ruling and, for now, granted US President Donald Trump the authority to dismiss two officials who head independent agencies.

A brewing legal dispute could curtail the Federal Reserve’s long-held independence, a development that has Bitcoin proponents optimistic.

Any disturbance to the central bank could bode well for the flagship cryptocurrency, according to several contributors.

The matter arose as Supreme Court Chief Justice John Roberts reversed a lower-court ruling and, for now, granted US President Donald Trump the authority to dismiss two officials who oversee independent agencies.

While that case has broader implications, Bloomberg reported that the officials’ legal status closely resembles that of Federal Reserve governors, with the final outcome possibly deciding whether a president could remove the Fed chair.

Bloomberg Economics declared that the Fed’s independence is “under imminent threat,” describing how the newly reopened legal struggle escalated when Chief Justice Roberts allowed Trump to continue pursuing the dismissal of the two independent agency heads. Lawyers for those officials must respond by April 15, a date that hints at a future argument before the Supreme Court regarding the broader question of presidential powers over independent bodies.

The Kobeissi Letter, addressing talk of Trump directly seeking to fire Federal Reserve Chair Jerome Powell, clarified that the president had merely asked the Court to allow him to remove senior leaders at two other independent entities and “did NOT explicitly ask to fire Powell.”

Bitcoin Bulls Rejoice

The possibility of curbing the Fed’s autonomy has interested observers who view any setback to the central bank’s traditional role as a potential catalyst for Bitcoin’s value.

Pete Rizzo, host of the Supply Shock podcast, went so far as to call the development “the most bullish thing for Bitcoin imaginable.”

Thomas Fahrer, co-founder of Apollo, speculated via X: “Jerome Powell’s independence is very much at risk. The Fed may be printing money and buying Bitcoin to get some BTC sooner than you think.”

Jack Mallers, founder of Strike, offered an extended perspective in a months-old interview, noting his belief that “over the next 12 to 36 months or so, we’re going to see drastic changes in monetary policy.”

He recalled how President Trump “even hinted at having some oversight and control over the Federal Reserve,” rendering it unclear if such a move would indicate “the way Trump sees himself taming inflation, controlling financial markets while allowing the S&P and assets to rise in the greater interest of the people.”

Mallers also asked: “Maybe he wants [Secretary of the Treasury] Bessent to be the Fed chairman and lead the Treasury. Is that beyond us? Is Trump going to exercise his right to have further oversight over the Fed?”

The Strike founder went on to consider whether the administration might use yield curve control to keep the entire financial market in a state of balance as a strategy to keep asset prices rising and inflation low—perhaps at the expense of those holding dollars.

“Would that imply and mean that Trump is going to use some form of yield curve control to exercise absolute control at both ends of the market and make sure that assets pump and inflation is relatively tamed at the expense of those that hold the dollar? Is that what he means by a weaker dollar and strengthening our exports?,” Mallers asked.

At press time, BTC traded at $81,002.