The US government realigned its strategy on Bitcoin in August 2025, triggering strong market reactions. Finance Minister Scott Bessent stated that no further Bitcoin purchases for state reserves are planned. Instead, the existing reserve should only grow through confiscated coins from investigations. The announcement immediately led to a price drop from around $124,400 to below $119,000, as investors had previously bet on new state purchases and further rising prices. At the same time, Bessent confirmed that the government will no longer sell its currently held Bitcoins. This creates uncertainty in the market but could also lead to scarcity in the long term. Experts see this as a new phase of political predictability: The USA is not actively increasing its holdings but is also not selling any held coins. This means that state demand temporarily loses its status as a price driver, and the Bitcoin price is likely to be more strongly influenced by private and institutional investors as well as macroeconomic factors. These developments are being critically and intensively discussed by market participants
