Scott Bessent reaffirms US commitment: the Strategic Bitcoin Reserve remains a priority

Scott Bessent, the U.S. Secretary of the Treasury, has provided important clarifications regarding America’s stance on acquiring Bitcoin for the strategic national reserve. Through a statement released on X, Bessent emphasized that the Treasury Department is actively exploring strategies to acquire Bitcoin that do not impose additional burdens on American taxpayers. This announcement comes after weeks of uncertainty sparked by previously misunderstood statements that had raised doubts about the project’s continuity.

From media confusion to neutral budget strategies

About a week before the clarification, Bessent made statements that specialized press interpreted as a potential abandonment of the purchase plan. At that time, he stated that the Treasury would only use assets confiscated by the federal government, without proceeding with additional Bitcoin purchases. His words triggered an immediate market reaction: Bitcoin’s total market capitalization erased about $55 billion in less than 40 minutes, with the price dropping from $121,073 to $118,886. At the time of the subsequent clarification, BTC was trading around $118,500.

Price volatility reflects the market’s sensitivity to American political decisions regarding digital reserves. Today, Bitcoin continues to fluctuate as the crypto community closely watches political developments that could influence institutional demand.

The importance of a cost-neutral path for public budgets

The concept of “budget-neutral paths” is central to the American strategy. The President signed an executive order on March 6 that officially establishes both a Bitcoin Strategic Reserve and a Digital Asset Stockpile, with the declared aim of positioning the United States as a global leader in the cryptocurrency sector. These tools initially operate through the management of cryptocurrencies confiscated in federal criminal proceedings.

The executive order theoretically opened the door to further acquisitions through innovative methods that would not incur additional costs to American citizens. However, despite five months of “exploration,” concrete progress remains limited. The White House Digital Assets Working Group recently presented an extensive report but without specific details on how to implement these strategies long-term.

Concrete obstacles: when exploration becomes a challenge

Among the proposals discussed are re-evaluating Treasury gold certificates and renegotiating tariff revenues as potential non-burdensome funding sources. However, legislative obstacles are clear: the Treasury needs Congressional approval to legally proceed with Bitcoin purchases through budget-neutral methods.

Senator Cynthia Lummis highlighted this dynamic, urging colleagues to scrutinize the Bitcoin Act introduced in March more closely. Similar criticisms come from industry representatives: Eli Nagar, CEO of Braiins (a Bitcoin mining company), commented on X questioning the sense of an “exploration” that persists without concrete actions. “At some point, exploration without execution starts to look like evasion,” Nagar stated, emphasizing the urgency to move into the operational phase.

The promise of no sales: protecting acquired resources

Despite uncertainties about future purchases, Bessent provided significant reassurance by confirming that the United States does not intend to sell its current Bitcoin holdings. In a conversation with Fox Business media network, he emphasized: “We are stopping the sale.” This statement is particularly noteworthy, as it establishes a binding commitment to maintain and accumulate reserves rather than reduce them.

According to Bessent’s estimates, the U.S. Bitcoin Strategic Reserve is currently valued between $15 billion and $20 billion. This figure closely aligns with data from the BitBo dashboard tracking global Bitcoin treasuries, which reports U.S. holdings of 198,012 Bitcoin, worth approximately $23.5 billion at the current market prices.

Implications for the future of American digital dominance

Scott Bessent’s statements reveal a determination to affirm America’s position as a Bitcoin superpower, while also highlighting the organizational and legislative complexities involved. The crypto community remains divided: some see the clarification as renewed confidence in the project, while others, like Nagar, call for tangible progress through concrete actions rather than strategic statements.

The global race to accumulate digital reserves is intensifying, with the perception that a slow strategy could risk the U.S. being overtaken by other nations. The next phase will depend on Congress’s ability to provide a legislative framework that enables the practical implementation of these neutral, fiscally responsible strategies, turning Scott Bessent’s political intentions into real market actions.