Treasury Sec Clarifies Bitcoin Strategy, Reassures Market Amid Sell-Off

U.S. Treasury Secretary Scott Bessent has addressed concerns regarding the Strategic Bitcoin Reserve, emphasizing continued exploration of budget-neutral acquisition methods for Bitcoin. Following remarks suggesting a halt in purchases, Bessent clarified the government’s commitment to President Biden’s vision of making the U.S. a global Bitcoin leader. He emphasized that forfeited Bitcoin from criminal cases will form the reserve’s foundation. This comes after a recent interview sparked market volatility as Bessent stated ‘We’re not going to be buying that,’ indicating potential changes to the reserve strategy.