U.S. Treasury Secretary Benson & Melson confirms that the U.S. has no plans to reassess its gold reserves and will stop selling Bitcoin.
According to the U.S. Treasury Secretary's statement, the government will maintain gold as a reserve asset and halt the sale of Bitcoin worth approximately 15 to 20 billion USD.
MAIN CONTENT
The U.S. is not reconsidering the value of its gold reserves.
The U.S. government stops selling Bitcoin in its asset reserves.
The value of Bitcoin held by the U.S. is estimated at around 15-20 billion USD.
What plans does the U.S. Treasury have regarding gold and Bitcoin reserves?
U.S. Treasury Secretary Benson & Melson states that the government does not intend to reassess its current gold reserves while also stopping the sale of state-owned Bitcoin.
This is an important step in maintaining financial stability and preserving reserve assets. Retaining gold is still seen as ensuring long-term value, while the Bitcoin in reserves is currently paused for trading to avoid market risks.
The government's Bitcoin value is estimated to range from 15 to 20 billion USD, reflecting significant investment in digital assets within the national reserves.
What does this move reflect about the U.S. asset reserve strategy?
This decision reflects a priority to maintain stable value through gold, a long-standing asset that serves as a safe haven.
Meanwhile, the halt in Bitcoin sales shows that the U.S. is carefully considering the volatility of the cryptocurrency market and its impact on national finances. This also reflects a level of trust in diversifying reserve assets, combining traditional assets with cryptocurrencies.
The U.S. government remains committed to protecting the value of national reserves by maintaining gold and cautiously controlling the existing Bitcoin weight.
– U.S. Treasury Secretary Benson & Melson, August 2024
What impact does retaining Bitcoin have on the cryptocurrency market?
Halting the sale of Bitcoin from national reserves can help reduce sell-off pressure and price movement. This is a positive sign for the cryptocurrency market as a significant amount of digital assets will not be released into the market by major state institutions.
This instills confidence in investors regarding the stability and ability of large reserve funds to manage digital assets.
What factors contributed to this decision?
The decision is based on an analysis of gold price stability alongside the significant volatility of the cryptocurrency market. The Treasury prioritizes maintaining asset value through gold and reducing risks when the Bitcoin market remains volatile.
The balance between traditional and new assets reflects a strategy of diverse asset reserves, in line with current global financial management trends.
Frequently Asked Questions
How much Bitcoin does the U.S. Treasury currently hold?
The U.S. Treasury holds Bitcoin valued at around 15 to 20 billion USD, according to recent estimates.
Why won't the U.S. reassess its gold reserves?
Gold is considered a safe and stable reserve asset, helping to maintain the long-term value of national assets.
How does the halt in Bitcoin sales affect the cryptocurrency market?
Halting sales helps reduce sell-off pressure, enhancing stability and confidence in the global cryptocurrency market.
What makes the U.S. consider holding Bitcoin instead of selling it?
Due to the high volatility of the cryptocurrency market, retaining Bitcoin helps mitigate financial risks from large transactions.
Does this asset reserve strategy have negative implications?
The diverse asset balancing strategy helps mitigate risks and enhance long-term benefits for the national reserves.
Source: https://tintucbitcoin.com/bo-truong-benson-giu-nguyen-du-tru-vang/
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