- More BTC purchases?
- Volatility makes a comeback
Treasury Secretary Scott Bessent has stated that the U.S. might buy more Bitcoin, walking back his earlier comment that contributed to a recent crypto market correction.
The contradictory social media post has puzzled some members of the cryptocurrency community.
More BTC purchases?
As reported by U.Today, Bessent ruled out making additional BTC purchases on top of the forfeited coins that the U.S. government already holds.
The comment, which was made during a wide-ranging interview with Fox Business’s Maria Bartiromo, dismayed many members of the community since Bessent seemingly shut the door on possible Bitcoin buys.
In his latest post on X, however, he claims that the U.S. Treasury is actually committed to finding “budget-neutral” pathways for acquiring more coins, which echoes the comments that he made back in March.
As reported by U.Today, Bloomberg previously estimated that there was a 30% chance of the U.S. actually buying Bitcoin in 2025. The funds for such purchases could potentially come from the Exchange Stabilization Fund (ESF).
Volatility makes a comeback
Bitcoin is currently trading at $118,156 following Bessent’s most recent social media post. Earlier this Thursday, it reached an intraday low of $117,201 after hitting a new all-time high of $124,517 on the Bitstamp exchange.
Michael Saylor, the executive chairman of business intelligence firm Strategy (formerly MicroStrategy), has already brushed off Bitcoin’s most recent plunge with a succinct social media post.
Unfazed by the recent correction, Saylor claims that “volatility is the gift to the faithful.”