Treasury Secretary Scott Bessent confirmed the federal government should still increase its Bitcoin (BTC) holdings on Aug. 14, backtracking remarks made a number of hours earlier.Bessent had advised reporters throughout a tv interview within the morning that the Strategic Bitcoin Reserve would stay at its present stage.He mentioned the reserve would consist of roughly $15 billion to $20 billion in Bitcoin that the federal government already controls, most of which was seized in felony instances.Bessent additionally indicated that there have been no energetic plans to buy extra Bitcoin for the reserve.Nevertheless, later within the day, he posted on social media that the Treasury remained “dedicated to exploring budget-neutral pathways” so as to add to the reserve, reaffirming the federal government’s beforehand recognized stance towards accumulation.Bessent didn’t make clear what a budget-neutral technique would possibly appear like. In fiscal coverage, that sometimes means discovering methods to fund purchases with out growing the federal deficit, similar to liquidating different property, reallocating present appropriations, or creating income streams to offset the price.The Strategic Bitcoin Reserve was established in March via an government order signed by President Donald Trump. It’s a part of a broader White Home effort to combine digital property into U.S. monetary technique. Supporters see it as a solution to diversify nationwide reserves, present a hedge towards inflation, and strengthen the nation’s place in international forex competitors. This system at present depends on Bitcoin confiscated by legislation enforcement as its base provide.The change in tone got here throughout a unstable buying and selling session. Bitcoin reached a brand new file excessive above $124,000 in a single day earlier than falling again to about $117,000 later within the day.The drop adopted stronger-than-expected wholesale inflation knowledge, which lowered market expectations that the Federal Reserve might minimize rates of interest in September.Bessent’s feedback additionally come amid management modifications within the administration’s digital asset coverage crew. Earlier this month, Bo Hines, who led the White Home Council of Advisors on Digital Property and helped design the reserve framework, left his place.His exit has prompted hypothesis about potential changes to this system’s scope and timing.Bitcoin Market DataAt the time of press 12:46 am UTC on Aug. 15, 2025, Bitcoin is ranked #1 by market cap and the value is down 4.14% over the previous 24 hours. Bitcoin has a market capitalization of $2.36 trillion with a 24-hour buying and selling quantity of $104.23 billion. Study extra about Bitcoin ›Crypto Market SummaryAt the time of press 12:46 am UTC on Aug. 15, 2025, the whole crypto market is valued at at $4.01 trillion with a 24-hour quantity of $287.6 billion. Bitcoin dominance is at present at 58.81%. Study extra concerning the crypto market ›Talked about on this article