Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
US Treasury Secretary Scott Bessent walked back a line that rattled Bitcoin markets on Thursday, saying the Treasury is still looking at ways to add to a Strategic Bitcoin Reserve without raising taxpayer costs.
He had earlier told Fox Business that “we’re not going to be buying that,” but later posted on social media that the department is “exploring budget-neutral pathways” to acquire more Bitcoin.
Trending: Schumer Roasted for Inventing Fake Long Island Couple He Based Entire Career On
Bessent’s Clarification And The Reserve
According to his public remarks, the reserve will be built first from crypto forfeited to the government, and any extra purchases would be structured so they don’t increase the federal budget.
Bitcoin that has been finally forfeited to the federal
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!