Bitcoin News Today: U.S. Treasury Confirms Bitcoin Reserve but Markets Drop 3.7% After Mixed Messaging

U.S. Treasury Secretary Scott Bessent made additional remarks on Bitcoin on August 8, 2025, following earlier comments that had generated market concern. In a statement on the social media platform X, Bessent confirmed the establishment of a Strategic Bitcoin Reserve under President Donald Trump’s executive order from March. This reserve is composed of Bitcoin permanently transferred to the federal government through law enforcement seizures [1].

Bessent reiterated that the Treasury is exploring budget-neutral methods to acquire additional Bitcoin, in line with the administration’s goal of expanding the reserve and positioning the U.S. as the “world’s Bitcoin superpower.” However, this clarification came after he had caused a market reaction by stating on Fox Business that the government would not be purchasing new Bitcoin holdings. Instead, he emphasized that the reserve would be built solely from confiscated cryptocurrency assets [1].

His statements followed a period of heightened optimism in the Bitcoin market, with prices reaching record highs. However, the negative sentiment generated by Bessent’s comments led to a sharp correction. In the 24 hours following his remarks, Bitcoin fell by 3.7%, dropping below $119,000 from a peak of over $124,000 [1].

The mixed messaging has left market participants uncertain about the direction of the administration’s digital asset strategy. While the executive order had signaled an aggressive expansion of U.S. Bitcoin holdings, Bessent’s approach appears to be more cautious, relying on existing seized assets rather than new government spending. This strategy may reflect broader fiscal priorities but could also limit the scale of the reserve compared to initial expectations [1].

In addition to Bitcoin, Bessent has made several other notable economic statements. He ruled out the inclusion of major Chinese investments in a U.S. trade deal, dismissing the idea that Beijing would make multi-billion-dollar financial commitments as part of negotiations [2]. He also suggested that the U.S. could apply the same export license fee model recently used for Nvidia to other industries, indicating a potential shift in how the administration approaches trade policy [3].

Bessent has also criticized the Bank of Japan for being “behind the curve” in managing monetary policy, a comment that has fueled speculation about a potential reversal in the yen’s performance [4]. These remarks reinforce his broader economic philosophy, which favors market-driven solutions and is skeptical of traditional central banking approaches.

On broader economic indicators, Bessent noted that a cooling labor market and controlled inflation support the possibility of a 50 basis points rate cut by the Federal Reserve in September [5]. This aligns with the Trump administration’s broader narrative of preparing the economy for a shift in monetary policy and underscores Bessent’s role in shaping the administration’s economic strategy.

While uncertainty remains in the Bitcoin market following Bessent’s remarks, his approach highlights a pragmatic and fiscally responsible strategy. The administration appears to be seeking ways to integrate Bitcoin into the U.S. financial framework without committing large sums of taxpayer money. This model, based on enforcement-driven asset management, could serve as a precedent for future digital asset policies but may also face limitations in terms of scale and effectiveness [1].

Sources:

[1] Bitcoin (https://en.bitcoinsistemi.com/us-treasury-secretary-scott-bessent-makes-additional-bitcoin-statements-he-had-spoken-negatively-today/)

[2] Yahoo (https://finance.yahoo.com/news/live/trump-tariffs-live-updates-world-adapts-to-china-truce-us-tariff-revenue-inflation-in-check-200619422.html)

[3] POLITICO (https://subscriber.politicopro.com/article/2025/08/bessent-says-nvidia-export-license-fee-could-be-model-for-other-sectors-00506765)

[4] FastBull (https://www.fastbull.com/news-detail/bessent-lights-a-fire-under-the-japanese-yen-4339707_0)

[5] FastBull (https://www.fastbull.com/news-detail/-trump-challenges-powell-with-11-fed-chair-4339613_0)