The US Treasury Secretary clarifies the government's cryptocurrency strategy: no additional purchases of bitcoins, but the plan to expand reserves has not been terminated
TechFlame
2025-08-14 23:41
TechFlame2025-08-14 23:41
English
TechFlame reports that US Treasury Secretary Bessent made it clear on Fox Business Channel on Thursday local time that the US government will not directly buy more bitcoins, but later added that this does not mean stopping plans to expand crypto asset reserves. Since Trump signed an executive order to create a Bitcoin strategic reserve in March, the market has always paid attention to the details of its operation. The reserve is currently based on about $20 billion in cryptocurrencies seized by the government from criminal activities, and the executive order clearly requires the Ministry of Commerce and the Ministry of Finance to study “budget-neutral” methods to expand the size of the reserve. Bessent's statement that he “won't buy” on the program in the morning was interpreted by the market as stopping expanding reserves. However, in a supplementary statement on social media, he said, “The Ministry of Finance is committed to exploring a budget-neutral path to increasing Bitcoin holdings,” and its spokesperson emphasized that earlier remarks were overinterpreted — the relevant statements in the program were only casual explanations and were not major policy announcements. (gold 10)