US Treasury Secretary Scott Bessent suggested Nowadays, the federal government can expand its Bitcoin reserves outside the seizure by developing budget-neutral acquisition strategies.
Bessent emphasized the importance of stopping the sale of seized Bitcoin, and claimed that maintaining digital assets could improve American global financial leadership.
The Treasury Secretary appeared on the Squawk Box of CNBC, confirmed that the current American Bitcoin companies, with a value of approximately $ 17 billion, mainly came from confiscated criminal assets. Of these, the first attacks accounted for around $ 500 million, with appreciation feeding the considerable increase in value.
“The first thing you have to do is to say that it stops the sale. So … after the victims have been paid and all that … every seized assets will go to this reserve, and then … we will see what the way is ahead for more acquisitions for the reserves. And … we start with Bitcoin, but it is a general crypto reserve. “
Bessent’s comments followed on the executive order of President Trump and created a strategic bitcoin reserve, in which explicit agencies instruct to preserve confiscated Bitcoin instead of liquidating it. This order led to disappointment in the market, because many expected the purchasing of Bitcoin from the government, which led to a short -term decrease in the price of Bitcoin.
The industry initially expected that the executive order would include a proactive acquisition plan, reminiscent of the proposal from Senator Cynthia Lummis 2024 to buy and keep Bitcoin strategically as a long -term investment to reduce the national debt. The absence of such an explicit purchase strategy led to uncertainty among investors.
Will the US buy Bitcoin?
Bessert clarified that the administration intends to establish a structured approach for maintaining and possibly expanding this crypto reserve, but emphasized taxpayers would not directly finance Bitcoin -Acquisitions.
However, when Squark Box Co-Host asked Andrew Ross Sorkin how further Bitcoin acquisitions would be undertaken, Bessent remained elusive and explained,
“The first step is to stop selling. And then we will draw up a plan from there … I will go back to Washington this afternoon and then we talk about the way ahead. “
There seems to be no current plan for further Bitcoin purchases, but there is an intention to do this if possible. Speaking with CNBC’s Mackenzie Sigalos, Sorkin noted,
‘Do you know a way they could do that [buy Bitcoin] without taking a taxpayer. No, to be honest, I say that because it is just the craziest thing I have ever heard in my entire life. “
Sigalos noted Subtle indications in the executive that the administration remains open to exploring acquisition methods that would not include tax payment expenses.
The approach can further use criminal assets, the rewarding of existing tax resources and even utilizing unused energy controlled energy to minute Bitcoin directly. She said that these methods used ECHO strategies internationally, such as the use of Iran through sanctioned energy and the sleeping mining infrastructure of China.
Nevertheless, Finance Minister Bessent remained carefully with the near future, and emphasized that formal steps further than stopping Bitcoin sales still have to be determined.
He confirmed that discussions would continue during today’s crypto-oriented top in Washington, where concrete strategies for expanding the reserve could arise.
In the end, the statements of Bessent reflect a significant shift in American policy into recognizing Bitcoin as a viable national reserve active.
Nevertheless, the implementation depends on the development of financially responsible acquisition methods that match public and political expectations.
The broader implications of such a policy, including potential inflationing and increased international bitcoin acceptance, will probably remain a central point in the coming months.
