Secretary Bessent Calls for US Bitcoin and Crypto Dominance Ahead of Trump’s Summit

Ahead of the White House crypto summit, U.S. Treasury Secretary Scott Bessent is advocating for the U.S. to take a dominant role in global Bitcoin adoption and crypto policy. Bessent, alongside other pro-crypto cabinet members, has been vocal in pushing for policies that are favorable to digital assets, aiming to position the U.S. as a global leader in the space.

One of the key promises from President Donald Trump’s campaign was the creation of a national Bitcoin investment strategy. In January, Trump signed an executive order to explore the creation of a U.S. digital asset stockpile, which many anticipate will include Bitcoin. This initiative was further solidified with a new executive order signed on March 6, explicitly mentioning the establishment of a “U.S. Digital Asset Stockpile” and a “Strategic Bitcoin Reserve.” The updated order suggests that the government is now actively considering Bitcoin purchases for this reserve, an issue that had previously been a point of contention under earlier administrations.

The U.S. government currently holds 198,109 BTC, valued at approximately $18 billion at current prices, much of which was seized through criminal investigations. David Sacks, the White House’s AI and Crypto Czar, has also been critical of past administrations for selling off the government’s Bitcoin too early. He pointed out that, if the government had held onto its BTC, it could be worth $17 billion today rather than the $366 million it generated from sales over the past decade.

In his comments to CNBC, Secretary Bessent emphasized that halting further government sales of Bitcoin and considering strategic purchases for a Bitcoin reserve are key priorities. He also stressed the importance of the U.S. taking the lead in global crypto policy and ensuring that Bitcoin remains a prominent part of the country’s digital asset strategy. “I’m a big proponent of the U.S. taking the worldwide lead in crypto,” Bessent stated, underscoring the need for the U.S. to “bring Bitcoin on shore” and solidify its position as a leader in the digital asset space.