Treasury Secretary Scott Bessent confirmed the federal government should still develop its Bitcoin (BTC) holdings on Aug. 14, backtracking remarks made a couple of hours earlier.
Bessent had advised reporters throughout a tv interview within the morning that the Strategic Bitcoin Reserve would stay at its present degree.
He stated the reserve would consist of roughly $15 billion to $20 billion in Bitcoin that the federal government already controls, most of which was seized in legal circumstances.
Bessent additionally indicated that there have been no lively plans to buy extra Bitcoin for the reserve.
Nevertheless, later within the day, he posted on social media that the Treasury remained “dedicated to exploring budget-neutral pathways” so as to add to the reserve, reaffirming the federal government’s beforehand identified stance towards accumulation.
Bessent didn’t make clear what a budget-neutral technique may appear to be. In fiscal coverage, that usually means discovering methods to fund purchases with out growing the federal deficit, resembling liquidating different belongings, reallocating present appropriations, or creating income streams to offset the associated fee.
The Strategic Bitcoin Reserve was established in March by way of an government order signed by President Donald Trump. It’s a part of a broader White Home effort to combine digital belongings into U.S. monetary technique.
Supporters see it as a method to diversify nationwide reserves, present a hedge towards inflation, and strengthen the nation’s place in world forex competitors. This system presently depends on Bitcoin confiscated by regulation enforcement as its base provide.
The change in tone got here throughout a unstable buying and selling session. Bitcoin reached a brand new document excessive above $124,000 in a single day earlier than falling again to about $117,000 later within the day.
The drop adopted stronger-than-expected wholesale inflation information, which diminished market expectations that the Federal Reserve might reduce rates of interest in September.
Bessent’s feedback additionally come amid management adjustments within the administration’s digital asset coverage group. Earlier this month, Bo Hines, who led the White Home Council of Advisors on Digital Belongings and helped design the reserve framework, left his place.
His exit has prompted hypothesis about potential changes to this system’s scope and timing.
Bitcoin Market Knowledge
On the time of press 12:46 am UTC on Aug. 15, 2025, Bitcoin is ranked #1 by market cap and the value is down 4.14% over the previous 24 hours. Bitcoin has a market capitalization of $2.36 trillion with a 24-hour buying and selling quantity of $104.23 billion. Be taught extra about Bitcoin ›
Crypto Market Abstract
On the time of press 12:46 am UTC on Aug. 15, 2025, the overall crypto market is valued at at $4.01 trillion with a 24-hour quantity of $287.6 billion. Bitcoin dominance is presently at 58.81%. Be taught extra concerning the crypto market ›
