Treasury Secretary Signals US Plans to Acquire More Bitcoin for Reserve
Treasury Secretary Signals US Plans to Acquire More Bitcoin for Reserve
The U.S. plans to acquire more bitcoin to expand its strategic reserve beyond seized assets, Treasury Secretary Bessent said, outlining the government’s approach to crypto accumulation.
Treasury Secretary Signals US Plans to Acquire More Bitcoin for Reserve
Treasury Secretary Bessent Unveils Plan for America’s First Bitcoin Reserve
Treasury Secretary Scott Bessent shared plans on Friday for the United States to build a strategic bitcoin reserve following President Donald Trump’s executive order. Speaking with CNBC, Bessent explained that the administration is in the early stages of discussing how to acquire and manage cryptocurrency holdings as part of a national reserve. His remarks precede the White House’s first-ever crypto summit, where industry leaders are expected to discuss incorporating digital assets into the national financial strategy.
Bessent detailed the government’s approach, stating that the first assets to be placed in the reserve will be cryptocurrencies seized from illicit activities. He added:
Then we’ll see what the way forward is for more acquisitions for the reserve. And we’re starting with bitcoin, but it’s an overall crypto reserve.
The initiative is intended to ensure security and regulatory compliance while gradually expanding to include other digital assets. The administration’s plan represents a shift in policy, aligning with Trump’s campaign pledge to make the U.S. a leader in cryptocurrency adoption.
Looking ahead, the Treasury Department is expected to consider a broader crypto reserve beyond bitcoin, with digital assets such as ether (ETH), XRP, solana (SOL), and cardano (ADA) being included, as Trump announced on March 2. The White House’s first-ever crypto summit will provide further details on the initiative, according to White House AI and Crypto Czar David Sacks. The summit will bring together policymakers and financial experts to discuss regulations, security measures, and the long-term impact of digital asset reserves on the U.S. economy.
Tags in this story
Bitcoin (BTC), Donald Trump, United States
Image Credits: Shutterstock, Pixabay, Wiki Commons
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