Trump Administration Cedes Bitcoin Purchases, Focuses on Seized Assets

The Trump administration has confirmed its decision to halt direct Bitcoin purchases and shift towards building reserves using seized assets. This policy shift, announced by U.S. Treasury Secretary Scott Bessent, led to a significant drop in Bitcoin prices. The market reacted swiftly, with BTC plummeting below $119,000. Senator Cynthia Lummis also spoke out against direct Bitcoin purchases, emphasizing the need for budget-neutral methods to address the US’s debt crisis.