U.S. Treasury Secretary Scott Bessent has reversed his earlier stance, now signaling a potential shift towards the government acquiring more Bitcoin.
In a post on X, he stated that the Treasury is exploring “budget-neutral” ways to expand its Bitcoin reserve, contradicting his prior remarks that had dismissed the idea.
This new position aligns with a directive from President Trump’s March Executive Order to explore such acquisition strategies without incremental cost to taxpayers.
The market responded to his initial, more negative comments with a pullback, but Bitcoin is currently trading around $118,156. Strategy Chairman Michael Saylor remains unfazed by the volatility, reinforcing his long-held bullish stance on the asset.
After a recent 3.06% decline, Bitcoin’s price has stalled and is holding steady at the time of writing. While analysts remain cautiously optimistic about a potential rebound for Bitcoin and the broader crypto market, investors are concerned that continued selling pressure could push the price lower, delaying the next attempt at a new all-time high.
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