Michaela
Summary: Is the U.S. Treasury still planning to buy Bitcoin for its Strategic Bitcoin Reserve?
Yes, Treasury Secretary Scott Bessent clarified that the department is exploring budget-neutral ways to acquire Bitcoin for the reserve. The Bitcoin already seized by the federal government will form the foundation of the reserve. Despite earlier comments suggesting otherwise, the initiative remains an active part of the U.S. digital asset strategy.
U.S. Treasury Secretary Scott Bessent has clarified that the department is continuing to explore budget-neutral options to acquire Bitcoin for the Strategic Bitcoin Reserve, reversing earlier remarks that suggested the plan was off the table.
“Treasury is committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the reserve,” Bessent wrote in a post on X. “And to execute on the President’s promise to make the United States the “Bitcoin superpower of the world,” he added.
Bessent also emphasized that the Bitcoin already seized by the federal government will serve as the cornerstone of the Strategic Bitcoin Reserve.
This clarification from Bessent followed his earlier Thursday interview with FOX Business, where his remarks appeared to suggest that the Treasury was not considering Bitcoin purchases.
“We’re not going to be buying that, but we are going to use confiscated assets and continue to build that up,” Bessent stated in the interview. At the time of writing, Bitcoin declined 3.4% over the past 24 hours, according to data from CoinMarketCap.
Even after Bessent’s clarification, his remarks sparked widespread discussion and reactions across online platforms. “So will you be buying, or not be buying[?] You are sending mixed signals, Sir,” one X user posted in reply to Bessent’s post.
Bessent’s remarks come after former White House Crypto Council Executive Director Bo Hines confirmed that plans for the Bitcoin Reserve remain underway, despite the absence of any direct mention of the initiative in the latest White House crypto report.
In a recent interview with Crypto in America, Hines reiterated that the U.S. Bitcoin Reserve continues to be a key element of the nation’s digital asset strategy. He noted that the reserve is already established alongside a wider digital assets stockpile, emphasizing Bitcoin’s unique role within the framework.
As discussions around a U.S. Strategic Bitcoin Reserve continue, both market observers and policymakers are keeping a close watch on how these initiatives develop. The outcome could influence not only government strategy but also broader trends in digital asset adoption, regulatory frameworks, and investor confidence in the rapidly evolving crypto landscape.
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Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
