Overview

• Scott Bessent told Fox Business the U.S. will not purchase additional Bitcoin for the reserve, saying future growth must rely on seized assets and that existing holdings will no longer be sold.
• Hours later Bessent posted on X that Treasury is committed to exploring budget-neutral pathways for acquiring more Bitcoin, creating uncertainty over the government’s acquisition strategy.
• Bitcoin plunged from an intraday peak near $124,000 to about $118,000 as traders revised expectations and crypto derivatives platforms recorded roughly $450 million in forced liquidations.
• The Strategic Bitcoin Reserve, established by President Trump’s March executive order and currently valued at $15 billion to $20 billion, remains dependent on forfeited coins while funding mechanisms are still under review.
• Senator Cynthia Lummis and other lawmakers are advancing the BITCOIN Act and similar proposals to codify budget-neutral purchase methods and clarify the reserve’s expansion framework.