Treasury Secretary Scott Bessent has expressed his belief that the United States should take a leading role in the global crypto industry. In an interview with CNBC, Bessent emphasized the importance of welcoming crypto-related businesses into the country and implementing best practices and regulations.
Bessent stated, “I am a big proponent of the US taking the worldwide lead in crypto. I think we have to bring it onshore and use our best practices and regulation.”
He also commended US President Donald Trump’s recent action to establish a Bitcoin reserve, which entails a commitment not to sell any seized BTC. According to David Sacks, the White House’s “Crypto Czar,” the US government has sold approximately 195,000 Bitcoin for $366 million, significantly less than its current value of over $17 billion. Data from blockchain analytics firm Arkham reveals that the US government currently possesses BTC worth $17.05 billion.
Bessent further mentioned the possibility of developing an acquisition plan to acquire additional Bitcoin for the reserve. He explained, “I think that before you can accumulate the Bitcoin reserve, you have to stop selling it. So what we have now is from a seized asset pool… The first thing to do is to stop the selling… After the victims are paid and all of that, any seized assets will go into this reserve, and then we’ll determine the way forward for more acquisitions for the reserves.”
At the time of writing, Bitcoin is trading at $86,624, showing no significant change in price throughout the day.
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