US Treasury Secretary Calls for Crypto Leadership as Bitcoin Reserves Surge

Treasury Secretary Scott Bessent has called for the United States to take a leading role in the global digital asset industry. In a recent interview, Bessent emphasized the need for the US to welcome crypto-related businesses and establish itself as a global leader in the sector. He believes that by bringing these activities onshore, the US can set industry standards and best practices through its regulatory framework, which will benefit the global crypto community.

Bessent praised the recent actions taken by the US government regarding Bitcoin. He highlighted President Donald Trump's initiative to create a Bitcoin reserve, which commits the US to not selling any seized Bitcoin. This move is seen as a significant step towards stabilizing the country's crypto holdings and potentially increasing its reserves in the future. The US government currently holds a substantial amount of Bitcoin, valued at approximately $17.05 billion, according to data from blockchain analytics firms.

Bessent further elaborated on the acquisition plan for the Bitcoin reserve. He stated that the first step is to halt the selling of seized Bitcoin and ensure that all victims are compensated. Once this is achieved, any remaining seized assets will be added to the reserve. This approach aims to build a robust Bitcoin reserve that can be further expanded through future acquisitions. Bessent's vision for the US to lead in the crypto industry is not just about regulation but also about fostering innovation and attracting global crypto businesses to the country.