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US Treasury Confirms No New Bitcoin Purchases Amid Market Volatility

Senator Cynthia Lummis has endorsed Treasury Secretary Scott Bessent’s budget-neutral plan to grow the Strategic Bitcoin Reserve using confiscated assets rather than direct purchases.

Fact Check
The statement is directly supported by a news report from Cointelegraph (Source 6), which explicitly quotes the US Treasury Secretary stating that 'the government will not make new BTC purchases.' This statement provides clarity following earlier government actions in March 2025 to establish a 'Strategic Bitcoin Reserve' (Sources 2, 5, 10), which had prompted speculation about government buying. While the confirmation is from a secondary news source, it is specific, recent, and uncontradicted by the other evidence provided.
Summary

Sen. Cynthia Lummis (R-WY) publicly supported U.S. Treasury Secretary Scott Bessent’s statement that the Strategic Bitcoin Reserve will be built using confiscated Bitcoin instead of government purchases, calling it a budget-neutral strategy. Bessent reiterated that forfeited Bitcoin will form the reserve’s foundation, as directed by President Trump’s March executive order, and that Treasury will explore budget-neutral methods, such as revaluing gold reserves, to expand holdings. Lummis emphasized reducing federal debt while enhancing the U.S. position in the global Bitcoin race. Bitcoin reached a record high above $124,000 before dropping to around $117,000.

Terms & Concepts
  • Strategic Bitcoin Reserve: A U.S. government initiative, established by executive order, to hold Bitcoin as a national reserve asset, primarily built from confiscated cryptocurrency.
  • Budget-neutral: A financial strategy aimed at achieving a policy goal without increasing the budget deficit, often by reallocating existing resources or using non-purchase methods.