No US Bitcoin Buys: Bessent ✋

The U.S. Treasury Secretary poured cold water on the idea that the government would buy Bitcoin to bolster its strategic reserve.

Author

Stephen Graves
August 14, 2025

📝 What you need to know

U.S. Treasury Secretary Scott Bessent dashed the hopes of the Bitcoin faithful Thursday, announcing that the government would not buy Bitcoin for its strategic reserve. Instead, the country will rely solely on Bitcoin confiscated during criminal seizures to bolster its holdings of the cryptocurrency.

Bessent’s comments came as the recent crypto market surge stalled, hours after Bitcoin surged to a new all-time high—carrying the total market cap of all cryptocurrencies to a record $4.2 trillion.

Despite the setback, analysts argued that underlying crypto market conditions are “exceptionally strong,” pointing to strong order book dynamics, renewed buying pressure, and a favorable regulatory climate.

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