The US has insisted that the government will not bail out Bitcoin if the crypto market crashes.
This was stressed by US Treasury Secretary Scott Bessent during a tense exchange with California Congressman Brad Sherman, a well-known Bitcoin critic.
Bessent rejected claims that the government could direct private banks to buy Bitcoin or intervene to support the price of the digital asset.
According to him, he does not have the authority to do so either as Treasury Secretary or as Chairman of the Financial Stability Oversight Council (FSOC).
However, the US government is currently holding a large amount of Bitcoin from criminal seizures.
Bessent revealed that the approximately $500 million in Bitcoin previously seized has increased in value to more than $15 billion, reflecting the asset’s surge in price without government intervention.
The statement also explained the direction of the US Strategic Bitcoin Reserve, which was introduced by President Donald Trump in March 2025.
Under the executive order, the government is only allowed to increase its Bitcoin holdings through asset seizures or budget-neutral methods, without direct purchases on the open market.
The decision disappointed some in the Bitcoin community who had hoped the US would become a major buyer of BTC.
For now, however, the government is taking a cautious approach and letting Bitcoin move entirely according to market forces.
