Treasury Secretary Scott Bessent Says US Should Take Worldwide Lead in Crypto, Strive To ‘Bring It Onshore’
Treasury Secretary Scott Bessent says that the US should become a global leader in digital assets.
In a new interview with CNBC, Bessent says the United States should welcome crypto-related businesses into the country and take a leadership role in the industry.
“I am a big proponent of the US taking the worldwide lead in crypto. I think we have to bring it onshore and they use our best practices and regulation.”
He also praises the recent action by US President Donald Trump to create a Bitcoin (BTC) reserve, which commits the US to not selling any seized BTC.
According to the White House’s “Crypto Czar,” David Sacks, the US government has sold approximately 195,000 Bitcoin for $366 million, far less than the more than $17 billion it would be worth today.
The US government currently owns $17.05 billion worth of BTC, per data from the blockchain analytics firm Arkham.
Bessent adds that there may eventually be developed an acquisition plan to purchase more Bitcoin for the reserve.
“I think that the Bitcoin reserve, before you can accumulate it, you have to stop selling it. So what we have now is from a seized asset pool…
So 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 see what the way forward is for more acquisitions for the reserves.”
Bitcoin is trading for $86,624 at time of writing, flat on the day.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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Treasury Secretary Scott Bessent Says US Should Take Worldwide Lead in Crypto, Strive To ‘Bring It Onshore’
Treasury Secretary Scott Bessent says that the US should become a global leader in digital assets.
In a new interview with CNBC, Bessent says the United States should welcome crypto-related businesses into the country and take a leadership role in the industry.
“I am a big proponent of the US taking the worldwide lead in crypto. I think we have to bring it onshore and they use our best practices and regulation.”
He also praises the recent action by US President Donald Trump to create a Bitcoin (BTC) reserve, which commits the US to not selling any seized BTC.
According to the White House’s “Crypto Czar,” David Sacks, the US government has sold approximately 195,000 Bitcoin for $366 million, far less than the more than $17 billion it would be worth today.
The US government currently owns $17.05 billion worth of BTC, per data from the blockchain analytics firm Arkham.
Bessent adds that there may eventually be developed an acquisition plan to purchase more Bitcoin for the reserve.
“I think that the Bitcoin reserve, before you can accumulate it, you have to stop selling it. So what we have now is from a seized asset pool…
So 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 see what the way forward is for more acquisitions for the reserves.”
Bitcoin is trading for $86,624 at time of writing, flat on the day.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Treasury Secretary Scott Bessent Says US Should Take Worldwide Lead in Crypto, Strive To ‘Bring It Onshore’ appeared first on The Daily Hodl.
Read More