Emre Yumlu 
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’s borders and mentioned he would discuss ways to acquire more BTC at the White House Crypto Summit on March 7.
In an interview with CNBC, Bessent criticized the US government’s previous Bitcoin sales. He stated:
“I’m 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 — before you start accumulating — you need to stop selling it.”
Bessent further explained that after compensating victims of financial misconduct or settled court cases from the US government’s seized Bitcoin stockpile, the remaining Bitcoins would go into the strategic reserve.
On March 6, President Donald Trump 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.
US Bitcoin Strategic Reserve Intensifies Global Competition
While smaller countries like El Salvador already have strategic Bitcoin reserves, the influence of the US, with the world’s strongest capital markets, is likely to push other nations into the race.
According to asset manager Anthony Pompliano, the global race for Bitcoin began in 2024, arguing that the US should take the lead to stay ahead of other countries.
David Bailey, CEO of Bitcoin Magazine, speculated that China has quietly been working on a Bitcoin reserve for months, following Trump’s re-election.
Trump’s executive order on the strategic reserve further legitimizes Bitcoin for institutional investors and solidifies the asset class as a major financial vehicle.
Bitcoin 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.
This characterization has led Bitcoin’s price to crash during macroeconomic shocks like trade wars, high inflation data, and unfavorable interest rate decisions.
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