U.S. Treasury Secretary clarifies government crypto assets strategy: No plans to increase Bitcoin purchases, but reserve expansion plans are not terminated.

[U.S. Treasury Secretary Clarifies Government Crypto Assets Strategy: No Plans to Purchase More Bitcoin, But Reserve Expansion Plan Not Terminated] U.S. Treasury Secretary Basent stated clearly on Thursday local time during an appearance on Fox Business that the U.S. government will not directly purchase more Bitcoin, but he later added that this does not mean the plan to expand the Crypto Assets reserve has been halted. Since Trump signed an executive order in March to create a Bitcoin strategic reserve, the market has been closely following the specifics of its operation. The reserve is currently based on approximately $20 billion worth of Crypto Assets seized by the government from criminal activities, and the executive order explicitly requires the Department of Commerce and the Treasury to explore budget-neutral ways to expand the reserve size. Basent's earlier statement of "not going to purchase" was interpreted by the market as halting the reserve expansion. However, he later issued a clarification on social media stating, "The Treasury is committed to exploring budget-neutral pathways for increasing Bitcoin holdings," and his spokesperson emphasized that earlier remarks were overly interpreted—what was said in the program was merely offhand commentary, not a significant policy declaration. ( Jin10 )