Bitcoin Reserve: U.S. Treasury Rules Out BTC Buys as GOP Senators Push For Use Of Gold Reserves

Bessent: U.S. Treasury Lacks Authority to Bail Out Bitcoin

TL;DR Treasury Secretary Scott Bessent told Congress that the federal government has no legal authority to bail out Bitcoin. The response followed a question from Representative Brad Sherman about a potential intervention by the Treasury or the FOMC to support Bitcoin. Bessent explained that the Treasury holds seized bitcoins, now valued at more than $15 billion, and that the reserve can only grow through forfeitures or budget-neutral mechanism…

US Treasury Secretary Bessent Confirms US Lacks Authority to Use Taxpayer Funds to Bail Out Bitcoin

The US Treasury confirms it lacks legal power to bail out Bitcoin or force banks to buy crypto. The US government can only hold seized Bitcoin and cannot invest taxpayer funds in digital assets. Lawmakers question World Liberty Financial ties while Treasury cites limits over bank charter oversight. The U.S. Treasury Secretary, Scott Bessent, informed legislators that federal legislation prohibits Bitcoin bailout. He tackled the matter at a House…

U.S. Treasury Confirms It Has No Authority to Bail Out Bitcoin as BTC Slumps

U.S. Treasury Secretary Scott Bessent told lawmakers this week that the federal government lacks the legal authority to bail out Bitcoin or direct banks to purchase cryptocurrencies. His remarks emphasized the limits of government intervention as digital assets face renewed…

U.S. Won’t Buy Bitcoin, Treasury Secretary Tells Congress

Key Takeaways The U.S. Treasury says it cannot and will not buy Bitcoin with taxpayer money. Government-held Bitcoin comes only from seizures, not investment decisions. Political pressure for a U.S. Bitcoin reserve is growing, but policy remains unchanged. Testifying before lawmakers, Treasury Secretary Scott Bessent shut down speculation that the federal government could step in to support Bitcoin during market stress. Asked directly whether T…

No Bitcoin Bailouts: Treasury Secretary Bessent Clarifies U.S. Stance

The U.S. Treasury reiterated its position on the limits of its policy on Bitcoin during a hearing held on Wednesday. U.S. Treasury Secretary Scott Bessent stated that the U.S. will hold onto the seized Bitcoins but will not order private banks to buy BTC during market correction. During the hearing, Congressman Brad Sherman posed questions to Bessent on the limits of the U.S. government’s authority on the regulation of the cryptocurrency. Sherma…