{"id":38038,"date":"2025-03-07T18:00:46","date_gmt":"2025-03-07T15:00:46","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=38038"},"modified":"2025-03-07T17:43:46","modified_gmt":"2025-03-07T14:43:46","slug":"us-treasury-secretary-bitcoin-should-come-onshore","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/us-treasury-secretary-bitcoin-should-come-onshore\/","title":{"rendered":"US Treasury Secretary: Bitcoin Should Come Onshore"},"content":{"rendered":"<p><strong>Treasury Secretary Bessent<\/strong> stated that he would explore ways to acquire additional <strong><a href=\"https:\/\/coinengineer.net\/blog\/trump-memecoin-earned-350-million-for-its-creators\/\">Bitcoin<\/a> at the White House Crypto Summit<\/strong> on March 7.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/us-treasury-secretary-bitcoin-should-come-onshore\/#Treasury_Secretary_Scott_Bessent_The_US_Should_Bring_Bitcoin_Onshore\" title=\"Treasury Secretary Scott Bessent: The US Should Bring Bitcoin Onshore\">Treasury Secretary Scott Bessent: The US Should Bring Bitcoin Onshore<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/us-treasury-secretary-bitcoin-should-come-onshore\/#US_Bitcoin_Strategic_Reserve_Intensifies_Global_Competition\" title=\"US Bitcoin Strategic Reserve Intensifies Global Competition\">US Bitcoin Strategic Reserve Intensifies Global Competition<\/a><\/li><\/ul><\/nav><\/div>\n<h2 data-start=\"0\" data-end=\"73\"><span class=\"ez-toc-section\" id=\"Treasury_Secretary_Scott_Bessent_The_US_Should_Bring_Bitcoin_Onshore\"><\/span>Treasury Secretary Scott Bessent: The US Should Bring Bitcoin Onshore<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"75\" data-end=\"272\"><strong>US Treasury Secretary Scott Bessent<\/strong> has called for bringing <strong>Bitcoin<\/strong> within the country\u2019s borders and mentioned he would discuss ways to acquire more BTC at the White House Crypto Summit on March 7.<\/p>\n<p data-start=\"274\" data-end=\"374\"><strong>In an interview with CNBC, Bessent criticized the US government&#8217;s previous Bitcoin sales. He stated:<\/strong><\/p>\n<blockquote>\n<p data-start=\"376\" data-end=\"595\">\u201cI\u2019m a big proponent of the US taking the lead in crypto. We need to bring it onshore and apply our best practices and regulations. For the Bitcoin Reserve \u2014 before you start accumulating \u2014 you need to stop selling it.\u201d<\/p>\n<\/blockquote>\n<p data-start=\"597\" data-end=\"812\">Bessent further explained that after compensating victims of financial misconduct or settled court cases from the US government&#8217;s seized Bitcoin stockpile, the remaining Bitcoins would go into the strategic reserve.<\/p>\n<p data-start=\"814\" data-end=\"1058\">On March 6, <strong>President Donald Trump<\/strong> signed an executive order establishing both a strategic Bitcoin reserve and a separate digital asset stockpile. Trump will host industry leaders at the White House on March 7 to discuss future crypto policies.<\/p>\n<h2 data-start=\"1060\" data-end=\"1123\"><span class=\"ez-toc-section\" id=\"US_Bitcoin_Strategic_Reserve_Intensifies_Global_Competition\"><\/span>US Bitcoin Strategic Reserve Intensifies Global Competition<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p data-start=\"1125\" data-end=\"1322\">While smaller countries like <strong>El Salvador<\/strong> already have <strong>strategic Bitcoin reserves,<\/strong> the influence of the US, with the world\u2019s strongest capital markets, is likely to push other nations into the race.<\/p>\n<p data-start=\"1324\" data-end=\"1487\"><strong>According to asset manager Anthony Pompliano<\/strong>, the global race for Bitcoin began in 2024, arguing that the US should take the lead to stay ahead of other countries.<\/p>\n<p data-start=\"1489\" data-end=\"1638\"><strong>David Bailey, CEO of Bitcoin Magazine<\/strong>, speculated that China has quietly been working on a Bitcoin reserve for months, following Trump\u2019s re-election.<\/p>\n<p data-start=\"1640\" data-end=\"1805\">Trump&#8217;s executive order on the strategic reserve further legitimizes<strong> Bitcoin for institutional investors<\/strong> and solidifies the asset class as a major financial vehicle.<\/p>\n<p data-start=\"1807\" data-end=\"1978\"><strong>Bitcoin<\/strong> is considered digital gold and offers classic store-of-value properties. However, due to the novelty of cryptocurrencies, many investors view BTC as a risky asset.<\/p>\n<p data-start=\"1980\" data-end=\"2141\" data-is-last-node=\"\" data-is-only-node=\"\">This characterization has led <strong>Bitcoin&#8217;s price<\/strong> to crash during macroeconomic shocks like trade wars, high inflation data, and unfavorable interest rate decisions.<\/p>\n<hr \/>\n<p data-start=\"1980\" data-end=\"2141\" data-is-last-node=\"\" data-is-only-node=\"\"><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a> and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Treasury Secretary Bessent stated that he would explore ways to acquire additional Bitcoin at the White House Crypto Summit on March 7. Treasury Secretary Scott Bessent: The US Should Bring Bitcoin Onshore US Treasury Secretary Scott Bessent has called for bringing Bitcoin within the country\u2019s borders and mentioned he would discuss ways to acquire more<\/p>\n","protected":false},"author":29,"featured_media":38041,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[12335,1828,9812,12528,6017],"class_list":["post-38038","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-crypto-summit","tag-el-salvador","tag-president-donald-trump","tag-treasury-secretary-bessent","tag-white-house"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>US Treasury Secretary: Bitcoin Should Come Onshore - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/us-treasury-secretary-bitcoin-should-come-onshore\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Treasury Secretary: Bitcoin Should Come Onshore - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Treasury Secretary Bessent stated that he would explore ways to acquire additional Bitcoin at the White House Crypto Summit on March 7. 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