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.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin Liquidation Alert: $715M Short Squeeze at $80,974, $715M Long Liquidation at $74,180
Gate News message, April 25 — According to Coinglass data, if Bitcoin surpasses $80,974, cumulative short liquidations across major centralized exchanges would reach $715 million.
Conversely, if BTC drops below $74,180, cumulative long liquidations across major CEXs would hit $715 million.
GateNews1h ago
GSR Debuts BESO ETF With Bitcoin, Ethereum, Solana
GSR debuts BESO ETF with active strategy, adjusting Bitcoin, Ether, and Solana allocations weekly to outperform benchmarks.
ETF records nearly $5M in first-day volume, signaling early investor interest in diversified crypto investment products.
Launch aligns with growing ETF momentum as
CryptoFrontNews6h ago
Iranian situation latest update: Control over the Strait of Hormuz is upgraded, and Bitcoin is consolidating around $77,000
On April 25, Iran once again escalated its Strait of Hormuz control measures. Bitcoin hovered around $77,500, gold was $4,709, and Brent crude was above $106. With fresh geopolitical turmoil, how will the three major assets move in tandem?
GateInstantTrends6h ago
Drivechain Architect Paul Sztorc Unveils August Bitcoin Hard Fork With 1:1 BTC Coin Split
Bitcoin developer and Drivechain architect Paul Sztorc announced a new Bitcoin hard fork called eCash, set to launch this August, giving every BTC holder an equal number of eCash coins at the time of the split.
Key Takeaways:
Paul Sztorc announced eCash, a new Bitcoin hard fork dropping in Augus
Coinpedia6h ago
Hashrate Index: Brazil and Venezuela Show Potential to Grow Latam's Bitcoin Mining Share
A new report on the state of bitcoin mining in Latam found that the region is lagging in bitcoin mining adoption, even as it holds vast energy resources. While Paraguay holds the fourth place in global hashrate, Hashrate Index picked Brazil and Venezuela as the nations to follow.
Key Takeaways:
A
Coinpedia8h ago
