U.S. Treasury Secretary Scott Bessent Makes Additional Statements on Bitcoin – He Made Negative Remarks Today

U.S. Treasury Secretary Scott Bessent announced on the social media platform X that Bitcoin permanently transferred to the federal government will form the basis for the Strategic Bitcoin Reserve Fund, established by executive order of President Donald Trump in March.

Bessent stated that the Treasury is committed to exploring options to purchase additional Bitcoin through budget-neutral measures, in order to fulfill President Trump’s promise to expand reserves and make the United States the "world's Bitcoin superpower".

This statement comes after Bessent's recent remarks on Fox Business, where he asserted that the government will not purchase more Bitcoin. He indicated that he supports the Strategic Bitcoin Reserve Fund, but that the fund will only be expanded when cryptocurrencies are seized by U.S. law enforcement agencies.

Following today's negative inflation data and Bessent's statements, BTC prices have dropped sharply. In the past 24 hours, the price has decreased by 3.7%.