Treasury Secretary Confirms the U.S. Will Not Buy Any More #Bitcoin . Treasury Secretary Scott Bessent has clarified that the United States will not be purchasing additional Bitcoin, a position that diverges from earlier suggestions made by other government officials. Speaking on FOX Business during the Mornings with Maria program, Bessent addressed several issues from the Trump administration’s agenda, including tariffs, the selection of the next Federal Reserve chair, the housing market, and the future of the country’s gold and digital asset holdings. Host Maria Bartiromo asked whether the Treasury planned to revalue its gold reserves. She pointed out that the government’s 261.5 million ounces of gold are currently valued at $42.22 per ounce based on a 1973 price, which amounts to $11 billion on paper. However, Maria noted that at current market rates, these gold holdings would be worth around $750 billion. She questioned Secretary Bessent if the Treasury was looking at revaluing these holdings. Bessent responded by noting that the government maintains a large gold reserve, which they might not be revaluing. He emphasized that the gold would remain in place as a store of value for the American people. The Treasury Secretary then switched to digital assets, noting that the administration has moved to modernize its holdings by establishing a strategic Bitcoin reserve. He explained that the government has funded the reserve through seized assets. According to Bessent, the reserve is worth between $15 billion and $20 billion at current prices. However, he revealed that the administration has no plans to buy more Bitcoin, reiterating that it will continue to grow the reserve only through confiscated assets. Data from Arkham shows the US government holds 198,022 BTC worth $24.34 billion. Bessent also confirmed that the government has no plans to sell any of the assets already in the reserve. Recall that in March, White House Crypto Czar David Sacks noted that the previous administration lost around $17 billion by selling some of its Bitcoin holdings.
