At the White House Crypto Summit on March 7, Treasury Secretary Bessent said that he will look for methods to get more Bitcoin.
At the White House Crypto Summit on March 7, US Treasury Secretary Scott Bessent recently advocated for the introduction of Bitcoin (BTC) $88.163 onshore and said that he will talk about the next steps for potentially purchasing additional BTC.
During an interview with CNBC, Bessent expressed disapproval of the US government’s prior Bitcoin sales. The interviewer was informed by the Treasury Secretary:
“I strongly believe that the US should lead the world in cryptocurrency. Using our best practices and standards, I believe we must bring it onshore. I believe that you must cease selling Bitcoin Reserve before you may amass it.
The Treasury Secretary went on to say that the remaining funds will be placed in the Bitcoin strategic reserve after all victims of financial misconduct or resolved legal disputes had been compensated from the US government’s confiscated Bitcoin stockpile.
In addition to hosting business executives at the White House later on March 7 to discuss future crypto policy, US President Donald Trump issued an executive order on March 6 creating a strategic Bitcoin reserve and a separate digital asset stockpile.
The presidential order signed by Trump “allows the secretaries of Treasury and Commerce to develop budget neutral strategies for adding to that reserve and provides that Bitcoin will not be sold.” Thus, the taxpayer will not have any financial burden. However, the secretaries are free to do so if they can find out a way to get more Bitcoin without spending any money on taxpayers,” they said.
Bitcoin will be handled differently in this regard than the “digital asset stockpile,” which consists of other cryptocurrencies that are in the control of the federal government. They said that “responsible stewardship of those assets” is the aim of the stockpile.
Magazine: Trump’s cryptocurrency endeavours raise concerns about insider trading and conflicts of interest
