U.S. Treasury Secretary Scott Bessent has suggested that the American government may purchase Bitcoin (BTC) in the future.
In an interview, Bessent said that the Strategic Bitcoin Reserve would be made up of the $15 billion U.S. to $20 billion U.S. already held by the federal government in Washington, D.C.
However, he also said that the Treasury Department is “committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the reserve.”
He added that any future Bitcoin purchases would be in addition to the digital tokens already held by the government, which will serve as a “foundation” for the strategic reserve.
U.S. President Donald Trump signed an executive order in March of this year to create a Strategic Bitcoin Reserve.
Cryptocurrency investors had hoped that would lead to large purchases of BTC by the U.S. government, driving up the price as a result.
While that hasn’t happened yet, Treasury Secretary Bessant’s comments appear to leave the door open to future Bitcoin buying on the part of the government.
Bitcoin is currently trading near $119,000 U.S. after briefly hitting a record high of $124,000 U.S. on Aug. 14.
