US Treasury Secretary Bessent says Government Won’t Buy Bitcoin

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Aug 14 2025

Bitcoin Price Decline: Bitcoin's price dropped below $120,000 after US Treasury Secretary Scott Bessent announced that the government would not be purchasing more Bitcoin for its strategic reserve, which is currently valued between $15 billion and $20 billion.
Market Impact and Future Outlook: The broader digital asset market fell nearly 3% following Bessent's comments, despite some analysts believing that long-term demand for Bitcoin may remain strong due to rising US debt levels.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

US Treasury Secretary Bessent says Government Won’t Buy Bitcoin

About the author

Top News

Ford Announces $19.5B EV Restructuring Charges

Fed Cuts Interest Rates Amid Economic Concerns

SpaceX Targets $800 Billion Valuation in Secondary Sale

U.S. Consumer Sentiment Slightly Improves in December

Related Articles

Castle Biosciences Releases New Data Enhancing Prognostic Accuracy for Uveal Melanoma

UEI Unveils QuickSet homeSense, Ushering in a New Era of Smart Living

People Also Watch