U.S. Treasury Secretary Scott Bessent said in a television interview that the federal government "won’t be buying" Bitcoin, adding that any such purchase must be budget-neutral. The remark appeared to dash hopes among some digital-asset advocates that Washington would follow El Salvador and other jurisdictions in adding the cryptocurrency to its reserves. Shortly after Bessent’s comments, Senator Cynthia Lummis renewed her push for the BITCOIN Act, legislation that would give Congress explicit authority to approve federal Bitcoin purchases. Lummis said the bill offers a path to build a Strategic Bitcoin Reserve without worsening the federal budget balance. The Wyoming Republican argued that revaluing U.S. gold holdings at current market prices and transferring the paper gains—rather than issuing new debt—could underwrite Bitcoin acquisitions and help address what she called an "unsustainable" $37 trillion national debt. Bessent later said the Treasury is still examining "budget-neutral" mechanisms for potential Bitcoin purchases, leaving the administration’s stance somewhat open.
So it turns out Scott was just a little hungover on Fox Business with Maria Bartiromo this morning when he said “we won’t be buying that”. As he clarifies below, the US Government is still actively looking at how to acquire more Bitcoin in a budget neutral way. https://t.co/U2Jcc3HuCI
JUST IN: 🇺🇸 Senator Lummis, responding to Treasury Secretary Bessent’s comments on exploring ways to buy more Bitcoin, says: “I have a ₿ill for that.” https://t.co/X4lZFF8AQ8
LUMMIS: “Bessent is right: a budget-neutral path to building SBR is the way. We cannot save our country from $37T debt by purchasing more bitcoin, but we can revalue gold reserves to today’s prices & transfer the increase in value to build SBR. America needs the BITCOIN Act.” https://t.co/JUq5LHXS7k