The United States may expand its Strategic Bitcoin Reserve after Treasury Secretary Scott Bessent reversed earlier comments, leaving the door open for new Bitcoin purchases.
On Thursday, Bessent initially told Fox Business that the Treasury “would not be buying” Bitcoin for the reserve, prompting criticism from the crypto industry.
Bassinet Clarifies Bitcoin Reserve Plan
Later, he clarified on X that “Bitcoin that has been finally forfeited to the federal government will be the foundation of the Strategic Bitcoin Reserve that President Trump established in his March Executive Order.”
Bessent added that the Treasury is exploring budget-neutral ways to acquire more Bitcoin to grow the reserve, aiming to make the U.S. a “Bitcoin superpower of the world.”
U.S. President Donald Trump’s March executive order created the Strategic Bitcoin Reserve, separate from the broader digital asset stockpile holding Ethereum, Solana, XRP, and Cardano.
According to Bessent, the U.S. currently holds $15-20 billion in Bitcoin, primarily from seized funds. The announcement sparked debate in the crypto community, with some accusing Washington lobbyists of misrepresenting the initiative.
Bitcoin’s price remained steady near $119,098 on Thursday, down 3.63% from its $124,000 peak the previous day, according to CoinMarketCap, a leading cryptocurrency market data provider.
White House Crypto Czar David Sacks said in March that it was up to Bessent and Commerce Secretary Howard Lutnick to explore “budget-neutral ways” to expand the reserve, though no further details have been released.
The move demonstrates the changing crypto policy of the Trump administration and its efforts to increase American influence in the international cryptocurrency market.