Treasury Secretary Scott Bessent addressed the Trump administration’s approach to managing the United States’ strategic bitcoin reserve during a Fox Business interview, prompting widespread speculation about future government acquisitions of bitcoin.
Reserve origins and executive order
The current reserve is based on approximately $20 billion worth of bitcoin seized from criminal activities.
President Trump established the strategic bitcoin reserve by executive order in March, directing the Commerce and Treasury departments to explore “budget-neutral” methods to expand the government’s bitcoin holdings.
Clarification after initial remarks
Bessent’s televised statement that the government would not be “buying” bitcoin led to assumptions that further acquisitions were off the table.
However, later in the day, Bessent clarified his position on social media, stating:
“Treasury is committed to exploring budget-neutral pathways to acquire more Bitcoin.”
This reassurance suggests ongoing consideration of ways to increase the reserve without direct purchases.
Ongoing policy development
The Trump administration’s broader strategy for bitcoin has yet to be fully detailed.
Many expected specifics in the recent White House report on digital asset policy, but plans for the reserve were not included.
Bessent also indicated that forthcoming legislation will seek to codify how federal assets like bitcoin and gold are managed. He stated:
“I think this is going to be one of President Trump’s great legacies.”
Next steps for bitcoin reserve strategy
While direct government purchases of bitcoin appear unlikely in the near term, the administration is actively considering alternative, budget-neutral means of expanding its holdings.
Further details are expected as new legislation is introduced.
