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U.S. Treasury Secretary Becerra recently made a series of seemingly contradictory statements regarding Bitcoin reserve policy, raising doubts about the signals from the U.S. government's policy.
Bessent initially emphasized in a media interview that the U.S. government would not actively purchase Bitcoin, but would accumulate the so-called "Bitcoin strategic reserve" through asset seizures. He stated that this reserve is an important initiative for the U.S. moving into the 21st century and estimated the current reserve value to be between $15 billion and $20 billion. Bessent also reaffirmed that the government will retain the seized assets, will not sell Bitcoin, and will continue to expand the reserve through future enforcement actions.
However, just a few hours later, Besant posted a statement on social media that seemed to contradict his earlier position. He stated that the U.S. Treasury is exploring "ways to acquire more Bitcoin without increasing budget burdens" to expand its reserves. This sudden shift has raised concerns in the market about the U.S. government's Bitcoin policy.
It is worth noting that when asked whether the United States would revalue its 261.5 million ounces of gold reserves, Bessent stated that it is unlikely. Currently, the official book value of these gold reserves is approximately $11 billion, still using the 1973 price of $42.22 per ounce. However, based on current market prices, its actual value has reached about $750 billion. Bessent believes that although there will be no revaluation, gold will still serve as a long-term store of value for the country.
Besen's contradictory statements have raised doubts about the U.S. government's Bitcoin policy. Market participants and analysts are closely monitoring the specific actions that the U.S. Treasury may take in the future, as well as the potential impact of these policy changes on the cryptocurrency market.