Key Takeaways:
- Treasury Secretary Scott Bessent reaffirmed plans to acquire Bitcoin via budget-neutral methods, easing fears of a policy shift.
- Confiscated Bitcoin will form the base of the Strategic Bitcoin Reserve, now valued between $15 billion and $20 billion.
- Bitcoin sales by the U.S. government are paused, with additional purchases pending legislative approval.
US Treasury Secretary Scott Bessent reaffirmed that the department is pursuing budget-neutral strategies to acquire Bitcoin for the Strategic Bitcoin Reserve, countering earlier remarks that triggered a sharp market drop.
In an X post Thursday, Bessent said the Treasury remains committed to expanding the reserve without increasing costs for taxpayers, starting with Bitcoin seized in criminal cases.
Bitcoin that has been finally forfeited to the federal government will be the foundation of the Strategic Bitcoin Reserve that President Trump established in his March Executive Order.
— Treasury Secretary Scott Bessent (@SecScottBessent) August 14, 2025
In addition, Treasury is committed to exploring budget-neutral pathways to acquire more…
His clarification followed a FOX Business interview in which he stated, “We’re not going to be buying that,” suggesting the reserve would rely solely on confiscated assets.
That comment caused Bitcoin’s price to fall from $121,073 to $118,886 in 40 minutes, erasing nearly $55 billion in market value.
Despite his reversal, Bitcoin remained lower at $118,500.
Established under President Trump’s March 6 executive order, the reserve can also grow through budget-neutral measures such as reallocating gold certificates or using tariff revenue, though legislative approval is needed.
Senator Cynthia Lummis has urged Congress to pass her BITCOIN Act.
While no new purchases have begun, Bessent confirmed the government is halting Bitcoin sales, valuing current holdings at $15–$20 billion, with BitBo data showing 198,012 BTC worth about $23.5 billion.
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