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Treasury Secretary Bessent Says U.S. Won't Make New BTC Buys for Reserve
He confirmed plans to avoid new purchases of crypto and build reserves via confiscations only.
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Treasury Secretary Scott Bessent said the U.S. would not be purchasing Bitcoin for its strategic reserve. Instead, the reserve would grow solely from seized crypto, and existing holdings would remain untouched.
What’s the Scoop?
- No New Acquisitions: Bessent made it clear that the U.S. government had no plans for buying Bitcoin outright for its reserve fund.
- Using Forfeited Crypto Only: Future increases in the Strategic Bitcoin Reserve will come only from confiscated assets—no new purchases were planned. The Treasury will also cease selling off current Bitcoin holdings held in the reserve.
- Reserve Size: The Bitcoin reserve is currently valued between $15 billion and $20 billion, Bessent estimated in an interview with Fox Business.
- Policy Shift: This stance marks a shift in tone from earlier signals that the administration might pursue broader crypto acquisitions.
Bankless Take:
The Trump Administration has not made any moves to purchase new BTC for the strategic reserve. While Secretary Bessent emphasized that his agency continues to explore "budget neutral" crypto acquisition strategies, it is unlikely that the United States will expend taxpayer dollars on buying your bags any time soon.