US Treasury Secretary Benson & Melson Affirms No Plan to Reassess Gold Reserves and Will Stop Selling Bitcoin.
According to the US Treasury Secretary's statement, the government will keep gold as a reserve asset and stop selling Bitcoin worth approximately 15 to 20 billion USD.
- The US will not reassess gold reserve value.
- The US government will stop selling Bitcoin in its asset portfolio.
- The US Bitcoin value is estimated around 15-20 billion USD.
What Plans Does the US Treasury Secretary Have Regarding Gold Reserves and Bitcoin?
US Treasury Secretary Benson & Melson stated that the government has no intention of reassessing the current gold reserves and will stop selling state-owned Bitcoin.
This is an important step to maintain financial stability and preserve reserve assets. Holding gold is still considered a long-term value guarantee, while the Bitcoin in the portfolio is currently suspended from trading to avoid market risks.
The government's Bitcoin value is estimated to fluctuate between 15 and 20 billion USD, reflecting a significant investment in digital assets in the national reserve portfolio.
What Does This Move Reflect About the US Reserve Asset Strategy?
This decision demonstrates the priority of maintaining stable value through gold, an asset with a long history as a safe haven.
Meanwhile, suspending Bitcoin sales shows that the US is carefully considering cryptocurrency market volatility and its impact on national finances. This also reflects the level of trust in diversifying reserve assets, combining traditional and digital assets.
The US government remains committed to protecting the value of national reserve assets by maintaining gold and carefully controlling the current Bitcoin holdings.
– US Treasury Secretary Benson & Melson, August 2024
How Will Retaining Bitcoin Impact the Cryptocurrency Market?
Refraining from selling Bitcoin from national reserves can help reduce selling pressure and price movement. This is a positive sign for the cryptocurrency market when a large amount of digital assets is not released to the market from important state institutions.
This creates investor confidence in the stability and ability of large reserve funds to manage digital assets.
What Factors Contributed to This Decision?
The decision is based on an analysis of gold price stability and the significant volatility of the cryptocurrency market. The Treasury prioritizes maintaining asset value through gold and reducing risks while the Bitcoin market remains volatile.
The balance between traditional and new assets reflects a diversified reserve strategy that aligns with current global financial management trends.
Frequently Asked Questions
How Much Bitcoin Does the US Treasury Currently Have?
The US Treasury owns Bitcoin valued at approximately 15 to 20 billion USD, according to recent estimates.
Why Isn't the US Reassessing Gold Reserves?
Gold is considered a safe and stable reserve asset that helps maintain long-term national asset value.
How Does Stopping Bitcoin Sales Affect the Cryptocurrency Market?
Stopping sales helps reduce selling pressure, enhancing stability and confidence in the global cryptocurrency market.
What Makes the US Consider Holding Bitcoin Instead of Selling?
Due to the high volatility of the cryptocurrency market, retaining Bitcoin helps limit financial risks from large transactions.
Does This Asset Reserve Strategy Have Negative Impacts?
The balanced, diversified asset strategy helps minimize risks and enhance long-term benefits for the national reserve portfolio.
