US Treasury Secretary Scott Bessent, who openly called for the FED to cut interest rates in his statements yesterday, made new statements today.
Speaking to Fox Business, Treasury Secretary Scott Bessent made important statements about the US cryptocurrency reserve.
Stating that the US will keep gold as a store of value, Bessent said that he will not buy new Bitcoin (BTC).
Bessent stated that Bitcoin will not be purchased to create reserves, but rather seized assets will be used, adding that the US will no longer sell Bitcoin.
Bessent finally added that Bitcoin reserves are around $15 to $20 billion.
Bessent also commented on the Fed’s interest rate cuts, stating that they believe there’s room for a series of rate cuts. He added that the Fed could start with a 25 basis point cut and then accelerate later.
*This is not investment advice.