Donald Trump · U.S. Treasury · Bitcoin · CLARITY Act · Scott Bessent · US Senate · Cointelegraph
US Treasury Secretary signals progress on Bitcoin reserve, CLARITY Act
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Scott Bessent said that the Treasury Department was “proceeding with all deliberate speed” on President Donald Trump’s 2025 executive order to establish a strategic Bitcoin reserve and digital asset stockpile.
Key facts
- The US currently holds 328,372 BTC in its reserves, worth about $215 billion at the time of publication
- Scott Bessent said that the Treasury Department was “proceeding with all deliberate speed” on President Donald Trump’s 2025 executive order to establish a strategic Bitcoin reserve and digital asset
- Speaking at a Senate Finance Committee hearing on Trump’s fiscal year 2027 budget for Treasury on Wednesday, Bessent said that the department was “proceeding with all deliberate speed
- Bessent did not comment on whether the $1 billion in digital assets seized from Iran since the US-Israel war against the country began in February was included in the crypto reserves
Summary
US Treasury Secretary Scott Bessent told Senate lawmakers that his department is pushing to establish a strategic Bitcoin reserve and digital asset stockpile more than a year after it was called for in an executive order from President Donald Trump. Speaking at a Senate Finance Committee hearing on Trump’s fiscal year 2027 budget for Treasury on Wednesday, Bessent said that the department was “proceeding with all deliberate speed” on the president’s 2025 order to establish Bitcoin and digital asset reserves.
The US currently holds 328,372 BTC in its reserves, worth about $215 billion at the time of publication.