US Treasury Rejects Bitcoin Purchases, Opts for Seized Assets Only

U.S. Treasury Secretary Scott Bessent dismissed speculation about federal Bitcoin purchases during a Fox Business interview, stating the government will only expand its holdings through seizures. He emphasized that confiscated assets, not taxpayer funds, will fuel the strategic reserve established by President Trump earlier this year. Bessent estimated current holdings at $15-20 billion but ruled out market buys.

The announcement contradicts months of White House rhetoric about aggressively accumulating Bitcoin. Officials like crypto czar David Sacks had hinted at ’budget-neutral’ acquisition methods, including gold sales. Bo Hines, a key digital assets advisor, repeatedly vowed the administration would ’acquire as much Bitcoin as possible.’ However, no purchases materialized, and a recent 168-page crypto policy report omitted reserve expansion details.

Bitcoin enthusiasts had hoped government purchases would boost legitimacy and prices. Instead, the Treasury’s seizure-only approach leaves the market dependent on law enforcement actions rather than deliberate investment. The shift suggests internal divisions over crypto strategy, with Bessent taking a more conservative stance than Trump’s vocal pro-Bitcoin advisors.

BitcoinTreasuryUS GovernmentCrypto PolicyScott BessentDigital AssetsStrategic ReserveSeizuresCryptocurrencyTrump Administration