US Treasury Secretary Scott Bessent said on 14 August that the federal government will halt sales of its bitcoin holdings, which he estimated are worth between $15 billion and $20 billion
US Treasury Secretary Scott Bessent said on 14 August that the federal government will halt sales of its bitcoin holdings, which he estimated are worth between $15 billion and $20 billion.
Bessent added that the Treasury has no plans to buy cryptocurrency on the open market and will instead rely on coins seized in law-enforcement actions to maintain its reserve. He also said he sees little likelihood the government will revalue its gold stockpile.
The move ends a policy of periodically liquidating confiscated bitcoin and could limit the supply of tokens coming from official auctions at a time when investors are closely monitoring government activity in digital assets.
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Source: https://thedefiant.io/news/regulation/us-treasury-halts-sale-bitcoin-reserve-valued-up-to-20-billion-6d73d6f7
