US Treasury Secretary Scott Bessent moved to calm markets after remarks on Fox Business rattled Bitcoin. He said the department is still exploring budget‑neutral ways to buy Bitcoin for a Strategic Bitcoin Reserve.
Author: Sahil Thakur
US Treasury Secretary Scott Bessent moved to calm markets after remarks on Fox Business rattled Bitcoin. He said the department is still exploring budget‑neutral ways to buy Bitcoin for a Strategic Bitcoin Reserve. His clarification followed headlines that many read as a freeze on purchases.
On Aug. 14, Bessent told Fox Business the government would not be “buying” Bitcoin and would instead build the reserve with confiscated assets. Traders took that as a hard stop on purchases. Within 40 minutes, Bitcoin fell from about $121,073 to $118,886, erasing roughly $55 billion in market value.
About seven hours later, Bessent posted on X that Treasury remains committed to budget‑neutral pathways to acquire more Bitcoin. He tied the effort to the administration’s goal of making the United States a “superpower.” He also repeated that forfeited Bitcoin will anchor the reserve.
Bessent said the United States plans to stop selling its existing Bitcoin. He estimated the Strategic Bitcoin Reserve at between $15 billion and $20 billion. External dashboards put known federal holdings near 198,012 BTC, a figure worth more when priced at recent levels.
Clarity on the reserve program affects both supply expectations and nation‑state adoption narratives. A confirmed buying framework could tighten float and support price. A seizures‑only approach would slow accumulation and limit policy impact. The “no selling” stance removes one source of potential supply overhang.
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