Treasury Secretary Scott Bessent sent conflicting signals Thursday over the future of U.S. government bitcoin acquisitions, initially ruling out new purchases before later suggesting they remain on the table.
Speaking early in the day, Bessent told reporters the Strategic Bitcoin Reserve (SBR) would remain limited to the $15–$20 billion worth of bitcoin already held — largely from law enforcement seizures — and that no additional buying was planned.
By late afternoon, however, the secretary appeared to reverse course. In a post on X, Bessent said the Treasury is “committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the reserve.” He emphasized that while seized assets would remain the “foundation” of the SBR, the government is open to finding cost-offsetting mechanisms to add to its holdings.
Treasury is committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the reserve, Source: X
The SBR was created in March under an executive order signed by President Donald Trump, part of an initiative Bessent has championed as a way to strengthen U.S. financial resilience and diversify strategic assets. The program recently lost a key architect, Bo Hines, head of the White House’s Council of Advisors on Digital Assets, who departed earlier this month.
Bitcoin prices, meanwhile, were sharply lower despite the late-day policy shift. After touching an all-time high of $124,000 overnight, BTC slid to about $118,000 by Thursday’s close — a drop exacerbated by stronger-than-expected U.S. Producer Price Index data, which dampened expectations for a September interest rate cut by the Federal Reserve.
Bitcoin slid to just under $118,000, source: Bitcoin Liquid Index
The market’s muted reaction to Bessent’s updated comments suggests traders remain focused on macroeconomic conditions rather than potential government Bitcoin accumulation. Still, his late-day statement leaves open the possibility that the U.S. could emerge as an active buyer in the world’s largest cryptocurrency, should budget-neutral mechanisms prove viable.
Source: https://bravenewcoin.com/insights/bessent-leaves-door-open-for-u-s-strategic-bitcoin-purchases-after-mixed-messages