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18/08/25 14:14 UTC-04

The U.S. Treasury Secretary revealed a way to replenish the country’s Bitcoin reserve

 

The Treasury Secretary described this approach as providing a “budget-neutral expansion” of the cryptocurrency reserve fund and supporting the official policy of Donald Trump’s administration to recognize Bitcoin as part of the nation’s assets alongside gold and oil.

Bessent pledged that previously confiscated assets, such as those from the Silk Road and Bitfinex cases, would continue to be held by the authorities. At the same time, the Treasury does not plan to sell BTC and believes that, over time, the state’s Bitcoin fund may be replenished through newly confiscated assets.

“We will not be buying Bitcoin; instead, we will direct confiscated assets to replenish the government’s reserves. We will also stop selling Bitcoin,” Bessent said.

Earlier, the analytics platform Bitcoin Bitbo reported that as of December 2024, U.S. authorities might have held around 198,012 BTC, valued at approximately $23.6 billion at current prices.
However, according to the U.S. Marshals Service (USMS), American authorities in fact own only 28,988 Bitcoins, rather than the previously claimed 200,000 BTC.

See also: "Bitcoin miner BitMine boosts Ethereum reserves to 1,297,093 ETH"

#Bitcoin (BTC) #Reserves #USA

Editor: Godfrid Brower
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