U.S. bets on #bitcoin
The Department of the Treasury will use confiscated assets to Build Strategic Reserve and explores More Acquisitions
U.S. Treasury Secretary Scott Bessent clarifies after the wave of confusion generated by today's interview with Fox Business that the bitcoins confiscated by the federal government will form the Base of the Strategic Bitcoin Reserve, established by President #DonaldTrump through an executive order in March 2025, with an estimated 198,000 #BTC valued between $15 billion and $20 billion.
The Treasury plans to retain these assets instead of selling them, marking a shift towards recognizing Bitcoin as a strategic reserve asset.
Additionally, Bessent revealed that the government is exploring budget-neutral acquisition strategies to increase Bitcoin holdings, aligning with Trump's vision of positioning the U.S. as the "world superpower of Bitcoin."
This approach includes halting the sale of confiscated bitcoins and assessing methods such as using existing fiscal resources or mining with government-controlled energy, although no concrete plans for direct purchases have been finalized.