14.08.2025 15:24
Treasury Secretary Scott Bessent recently clarified the US government's stance on Bitcoin and gold reserves, dispelling previous suggestions of further Bitcoin acquisition. During an interview on FOX Business's "Mornings with Maria," Bessent addressed various economic topics, including the Trump administration's approach to digital and precious metal assets.
Host Maria Bartiromo prompted Bessent regarding a potential revaluation of the US government's substantial gold reserves, currently valued at $11 billion based on a 1973 price but worth significantly more at current market rates. Bessent confirmed that the Treasury has no plans to revalue its gold holdings, emphasizing their continued role as a stable store of value for the American people. The substantial gold reserve will remain untouched.
Turning to digital assets, Bessent acknowledged the existence of a US government Bitcoin reserve, funded by seized assets, with a current value estimated between $15 and $20 billion. However, he emphatically stated that no further Bitcoin purchases are planned; the reserve's growth will solely rely on future asset seizures. This contradicts data from Arkham, which shows the US government holding significantly more Bitcoin. Bessent also assured the public there are no plans to sell any existing Bitcoin holdings.
This policy of maintaining, but not expanding, the Bitcoin reserve requires legislative action for formal establishment, Bessent explained. The administration intends to create a dedicated fund for managing these assets responsibly for future generations, a move aligning with President Trump's goal of building national wealth through asset accumulation rather than increased debt.
Bessent's declaration directly contradicts previous statements by Bo Hines, former Executive Director of the US President's Council of Advisers on Digital Assets. Hines had previously advocated for budget-neutral methods of acquiring additional Bitcoin, following President Trump's March 6, 2025 executive order establishing a Strategic Bitcoin Reserve. Hines even suggested exploring the revaluation of gold certificates to fund Bitcoin purchases, aiming for substantial Bitcoin accumulation, mirroring the approach to gold reserves.
The stark contrast between Bessent's announcement and Hines' earlier pronouncements has had a noticeable impact on the cryptocurrency market. Following Bessent's interview, Bitcoin experienced a sharp price drop, falling below $120,000 within minutes and currently trading at approximately $119,090 – a significant daily decline of 3.51%. This demonstrates the significant market sensitivity to official pronouncements regarding government involvement in the cryptocurrency space.
