USA Won’t Buy More Bitcoin, Says Bessent, Sending Price Below $120K

The move sent prices sliding beneath the $120,000 mark, just hours after setting a fresh all-time high of $124,457.

Bessent, speaking to Fox Business, said the government would rely solely on confiscated assets to grow its reserve rather than making new market purchases. The stance diverges from President Donald Trump’s earlier directive urging “budget-neutral strategies” to expand the nation’s Bitcoin holdings.

Earlier this year, the administration had explored unconventional funding sources, including tariff revenues and reassessing gold certificate values, to bolster acquisitions. The latest comments effectively shelve those plans — at least for now.#HotJulyPPI #usa