{"id":865007,"date":"2025-08-14T21:11:55","date_gmt":"2025-08-15T02:11:55","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/08\/14\/treasury-secretary-scott-bessent-says-u-s-will-not-buy-bitcoin-for-strategic-reserve-fox-news\/"},"modified":"2025-08-14T21:11:55","modified_gmt":"2025-08-15T02:11:55","slug":"treasury-secretary-scott-bessent-says-u-s-will-not-buy-bitcoin-for-strategic-reserve-fox-news","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/08\/14\/treasury-secretary-scott-bessent-says-u-s-will-not-buy-bitcoin-for-strategic-reserve-fox-news\/","title":{"rendered":"Treasury Secretary Scott Bessent Says U.S. Will Not Buy Bitcoin For Strategic Reserve: Fox News"},"content":{"rendered":"
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\n Treasury Secretary Scott Bessent Says U.S. Will Not Buy Bitcoin For Strategic Reserve: Fox News <\/h2>\n
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Author<\/p>\n

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Julia Smith<\/p>\n

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Author<\/p>\n

\n Julia Smith <\/span>\n <\/p>\n<\/p><\/div>\n

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About Author<\/p>\n

Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.<\/p>\n<\/p><\/div>\n<\/div><\/div>\n<\/p><\/div>\n

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Last updated:\u00a0<\/p>\n

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Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards<\/a>, focusing on factual accuracy and balanced reporting across all areas – from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews<\/a><\/p>\n<\/p><\/div>\n

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U.S. Treasury Secretary Scott Bessent clarified in a Fox News interview on August 14 that the U.S. will not be buying Bitcoin for its Strategic Bitcoin Reserve.<\/p>\n

U.S. Bitcoin Reserve Won\u2019t Be Bought, Scott Bessent Says<\/span><\/h2>\n

Speaking with Fox News reporter Maria Bartiromo<\/a> on Thursday, Bessent revealed that while the U.S. has its eyes on a Bitcoin Strategic Reserve \u201cto get into the 21st century,\u201d it will not be purchasing the cryptocurrency outright.<\/p>\n

\u201cWe\u2019re not going to be buying that, but we are going to use confiscated assets and continue to build that up,\u201d Bessent said. \u201cWe\u2019re going to stop selling that.\u201d<\/p>\n

\u201cI believe that the Bitcoin Reserve at today\u2019s prices is somewhere between $15 and $20 billion,\u201d he added.<\/p>\n

Bitcoin Dips Despite Reaching New Heights<\/span><\/h2>\n

Bessent\u2019s latest commentary may be seen as a marked disappointment for pro-Bitcoin proponents<\/a> who hoped the U.S. government would buy additional Bitcoin.<\/p>\n

Despite hitting an all-time high of over $124,000 on Thursday, Bitcoin\u2019s value dropped to just $117,000 by the time of publication.<\/p>\n

U.S. President Donald Trump, who widely campaigned on enacting crypto-friendly regulations,<\/a> signed off on at least two federal directives pertaining to the matter.<\/p>\n

In January, Trump signed an executive order that established a working group with, in part, the goal of establishing a national stockpile of cryptocurrency.<\/p>\n

In March, Trump signed an additional executive order<\/a> that effectively established a Strategic Bitcoin Reserve \u201ccapitalized with bitcoin owned by the Department of Treasury that was forfeited as part of criminal or civil asset forfeiture proceeding.\u201d<\/p>\n

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Just a few minutes ago, President Trump signed an Executive Order to establish a Strategic Bitcoin Reserve. <\/p>\n

The Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it\u2026<\/p>\n<\/div>\n

\u2014 David Sacks (@davidsacks47) March 7, 2025<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

\u201cThe Reserve will be capitalized with Bitcoin owned by the federal government that was forfeited as part of criminal or civil asset forfeiture proceedings. This means it will not cost taxpayers a dime,\u201d White House A.I. and Crypto Czar David Sacks said in a statement at the time.<\/p>\n

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Treasury Secretary Scott Bessent Says U.S. Will Not Buy Bitcoin For Strategic Reserve: Fox News Author Julia Smith Author Julia Smith About Author Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.<\/p>\n","protected":false},"author":1,"featured_media":865008,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[201,22197],"tags":[],"class_list":["post-865007","post","type-post","status-publish","format-standard","has-post-thumbnail","category-secretary","category-treasury"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/865007","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=865007"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/865007\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/865008"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=865007"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=865007"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=865007"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}