7-3-2025 – The United States is poised to halt the disposal of confiscated Bitcoin as a preliminary measure in establishing a national cryptocurrency reserve, Treasury Secretary Scott Bessent revealed during a CNBC interview.
Speaking candidly about the government’s evolving approach to digital assets, Bessent disclosed that authorities have previously liquidated roughly half of the £500 million worth of Bitcoin seized through various enforcement actions.
“The essential first step before we begin accumulating Bitcoin is to stop selling our existing holdings,” Bessent stated. “Once we’ve secured this foundation, we shall chart the course for new acquisitions to bolster the reserve.”
Whilst Bitcoin stands at the forefront of this initiative, Bessent clarified that the Treasury envisions a more comprehensive approach. “We’re commencing with Bitcoin, but our ambition extends to creating a broader cryptocurrency reserve,” he remarked.
The concept of a national Bitcoin reserve mirrors traditional sovereign asset management strategies, whereby governments maintain stockpiles of gold and foreign currencies as economic safeguards. Such reserves could potentially shield economies from inflation, diversify national assets, and acknowledge the increasing significance of digital currencies in global finance.
El Salvador has already ventured into establishing such reserves, whilst nations including China and Japan have thus far remained hesitant to follow suit. Any successful implementation would necessitate robust regulatory frameworks, secure storage protocols, and mechanisms to mitigate the notorious volatility of cryptocurrency markets.
Coinbase Chief Executive Brian Armstrong has publicly commended the Trump administration’s decision to create this Strategic Bitcoin Reserve, highlighting its transformative potential for the cryptocurrency sector’s legitimacy and institutional adoption.
