Treasury Secretary Confirms the U.S. Will Not Buy Any More Bitcoin

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Treasury Secretary Scott Bessent has clarified that the United States is not going to be buying further Bitcoin, a place that diverges from earlier strategies made by different authorities officers. 

Speaking on FOX Business throughout the Mornings with Maria program, Bessent addressed a number of points from the Trump administration’s agenda, together with tariffs, the number of the subsequent Federal Reserve chair, the housing market, and the way forward for the nation’s gold and digital asset holdings.

Host Maria Bartiromo requested whether or not the Treasury deliberate to revalue its gold reserves. She identified that the federal government’s 261.5 million ounces of gold are at the moment valued at $42.22 per ounce primarily based on a 1973 value, which quantities to $11 billion on paper. 

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However, Maria famous that at present market charges, these gold holdings can be price round $750 billion. She questioned Secretary Bessent if the Treasury was taking a look at revaluing these holdings.

Bessent: US Government Will Not be Revaluing Its Gold Nor Buying Bitcoin

Bessent responded by noting that the federal government maintains a big gold reserve, which they won’t be revaluing. He emphasised that the gold would stay in place as a retailer of worth for the American folks. 

Treasury Secretary Bessent on FOX Business

The Treasury Secretary then switched to digital belongings, noting that the administration has moved to modernize its holdings by establishing a strategic Bitcoin reserve. He defined that the federal government has funded the reserve via seized belongings.

According to Bessent, the reserve is price between $15 billion and $20 billion at present costs. However, he revealed that the administration has no plans to purchase extra Bitcoin, reiterating that it’s going to proceed to develop the reserve solely via confiscated belongings. Data from Arkham exhibits the US authorities holds 198,022 BTC price $24.34 billion.

Bessent additionally confirmed that the federal government has no plans to promote any of the belongings already within the reserve. Recall that in March, White House Crypto Czar David Sacks famous that the earlier administration misplaced round $17 billion by promoting a few of its Bitcoin holdings.

Meanwhile, Bessent additional defined that every of those initiatives, whether or not associated to gold or Bitcoin, would require legislative motion to formalize. 

He stated the administration would pursue statutory measures to create a devoted fund to handle these belongings responsibly for future generations. Bessent added that President Trump desires folks to recollect him because the chief who constructed nationwide wealth via asset accumulation quite than growing debt.

Treasury Secretary Bessent’s Comments Contrast Previous Remarks

Notably, this stance on halting Bitcoin purchases contrasts with earlier remarks made by Bo Hines, former Executive Director of the US President’s Council of Advisers on Digital Assets. Hines had repeatedly indicated that discussions had been underway with the Treasury and different companies to discover budget-neutral methods to accumulate further Bitcoin.

Hines’ feedback got here after President Trump signed an government order on March 6, 2025, creating a Strategic Bitcoin Reserve and a United States Digital Asset Stockpile, which acquired preliminary funding from present BTC holdings.

The order categorized Bitcoin as a reserve asset just like gold, prohibited the sale of reserve holdings, and directed Treasury and Commerce to hunt cost-free acquisition strategies for extra Bitcoin.

Following the order, Hines had floated the concept of re-evaluating gold certificates and utilizing the ensuing positive aspects to buy further Bitcoin. He additionally instructed in March that the US desires to build up as a lot Bitcoin as potential, very similar to gold.

Bessent’s newest remarks have now positioned doubt on these ambitions. Shortly after his remarks, Bitcoin, which had lately been reaching report highs, fell sharply. Within minutes, the worth dropped beneath $120,000, and it’s at the moment buying and selling at $119,090, marking a 3.51% decline for the day.

DisClamier: This content material is informational and shouldn’t be thought-about monetary recommendation. The views expressed on this article might embrace the creator’s private opinions and don’t replicate The Crypto Basic opinion. Readers are inspired to do thorough analysis earlier than making any funding selections. The Crypto Basic will not be answerable for any monetary losses.

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