The U.S. Treasury Department has officially stated that its ongoing strategic Bitcoin (BTC) reserve plan remains valid. This is in contrast to the skeptical remarks about Bitcoin purchases made by Treasury Secretary Scott Bessent just a few hours earlier, providing a new interpretation of the subsequent Bitcoin price drop.
Secretary Bessent stated on X (formerly Twitter) on the 4th (local time) that "the Treasury continues to explore ways to secure Bitcoin without affecting the budget" and that "this is part of a strategy to fulfill President Trump's promise to make the United States the 'world's largest Bitcoin powerhouse'". He again emphasized that the government will use confiscated Bitcoin as the cornerstone of this strategic reserve asset.
Earlier, Secretary Bessent had made remarks in a FOX Business interview on the same day suggesting that the Treasury would not purchase Bitcoin, which immediately caused market confusion and drove Bitcoin prices down to below $119,000 (approximately 165.41 million won). As a result, the market's expectations for the U.S. government's strategic Bitcoin reserve, which had been building up over the past few months, were sharply shaken.
Particularly in a situation where concerns were raised that other countries might move ahead of the United States in Bitcoin purchases, Bessent's initial statement appeared as if the U.S. had abandoned its implementation intentions, becoming a source of instability in the global cryptocurrency market. However, his subsequent statement clearly indicated that they have not stepped back from the Bitcoin holding strategy, partially alleviating market confusion.
Experts warn that "mixed messages from Washington could potentially undermine market confidence". Cryptocurrency expert Samson Mow noted, "To actually implement strategic reserves, the government must be backed by a clear schedule and budget plan" and "continuous changes in statements could potentially damage the U.S. government's credibility".
This incident once again highlighted the Bitcoin market's sensitivity to policy signals. It is anticipated that if the U.S. Treasury's specific implementation plan is disclosed, the market may once again determine its direction.
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