The Bitcoin ethos was abuzz today about a recent comment made by United Stated Treasury Secretary Scott Bessent on FOX Business. Sec. Bessent stated, “We are not going to be buying that” in relation to the Strategic Bitcoin Reserve. The price of bitcoin later dropped from an ATH of over $124,500 to around $117,000.
JUST IN: 🇺🇸 Treasury Secretary Bessent says the US Government is “not going to be buying” Bitcoin. pic.twitter.com/vL79P531CP
— Watcher.Guru (@WatcherGuru) August 14, 2025
Later in the day Sec. Bessent commented on X, “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.”
“In addition, Treasury is committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the reserve, and to execute on the President’s promise to make the United States the “Bitcoin superpower of the world.””
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.
— Treasury Secretary Scott Bessent (@SecScottBessent) August 14, 2025
In addition, Treasury is committed to exploring budget-neutral pathways to acquire more…
The key point of his updated statement is Treasury is still committed to exploring budget-neutral pathways to acquire more bitcoin to expand the reserve. Direct buying of bitcoin may not be a strategy given the current U.S. debt continuing to skyrocket past $37 trillion.