Scott Bessent Discusses Bitcoin Acquisition Strategies at the US Treasury

• US Bitcoin Reserve Plan Under Discussion
• Stopping the sale of seized Bitcoin is a priority
• Reserve will cover multiple cryptocurrencies

US Treasury Secretary Scott Bessent has signaled new Bitcoin acquisition plans that are being discussed within the government. During an interview with SCHEDULE Speaking on CNBC’s Squawk Box on Friday, Bessent commented on President Trump’s recent directive to establish a Bitcoin Strategic Reserve, along with the implementation of new tariff policies and other measures.

“I am all for the U.S. leading the global cryptocurrency industry,” Bessent said. “It is essential to implement best practices and regulations to solidify that leadership.”

The need to form a Bitcoin reserve was justified by Bessent as an initial measure to stop the sales of seized Bitcoin. “Before you start accumulating the reserve, it is crucial to stop selling it,” he highlighted.

Bessent clarified that the government currently has a set of seized crypto assets, estimating that “about $500 million in Bitcoin has been confiscated, and half of that amount has already been sold.”

According to the secretary, after the assets are allocated to reimburse victims, the remaining assets will be sent to the reserve. “Then, we will evaluate strategies for future acquisitions,” he added.

“The next step will be to define the guidelines for further purchases earmarked for the reserve,” Bessent continued, reiterating that the initiative will not be limited to Bitcoin alone but will encompass a broader spectrum of cryptocurrencies.

Asked about the financial implications of this Bitcoin acquisition, especially in a context where the US does not have a fiscal surplus, Bessent stressed that the priority is to stop the sales of seized Bitcoins before moving forward with planning new acquisitions.

“The first step is to cease sales; from there, we will draw up a plan,” Bessent concluded, mentioning that deliberations on the next steps will take place at the White House Crypto Summit, which will take place in a few hours.