PANews February 5 News, U.S. Treasury Secretary Scott Bessent testified before Congress that the U.S. government will not “rescue” the asset by requiring private banks to buy more Bitcoin during market downturns. He emphasized that neither the Treasury Department nor the Financial Stability Oversight Council (FSOC) has such authority.
Bessent also revealed that the $500 million worth of Bitcoin seized through asset confiscation has appreciated to over $15 billion. According to an executive order signed by Trump in 2025, the U.S. can only increase its strategic reserves through asset confiscation or budget-neutral strategies (such as converting oil or precious metals into Bitcoin), rather than through open market purchases.
Although this move has been criticized by some in the Bitcoin community as insufficient, Bitcoin advocates believe that the U.S. government’s purchasing actions could encourage other countries to establish their own strategic reserves, thereby impacting Bitcoin prices and market demand.
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