---
title: Bitcoin fell below $119,000 on Thursday after US Treasury Secretary Scott Bessent said the government will not make new BTC purchases to fund a Bitcoin reserve.
description: "▶️ Treasury secretary Scott Bessent says the US will not be buying any bitcoin \n\n▶️They will hold the $15-$20 billion in bitcoin they already have and confiscate more  \n\n▶️The statement contrasted with President Donald Trump’s earlier executive order directing the government to develop “budget-neutral strategies” for increasing Bitcoin holdings.\n\n▶️In April, Bo Hines, who at the time was a part of the Presidential Council of Advisers for Digital Assets, said the administration was exploring funding options for Bitcoin acquisitions, including tariff revenue and a reevaluation of the Treasury’s gold certificates.\n\n▶️In a silver lining to the sentiment-dampening statement, the Bessent did confirm that the US does not plan to sell any of its existing Bitcoin holdings\n\n▶️Bessent’s comments echo White House AI and crypto czar David Sacks, who said a Bitcoin reserve would be “a digital Fort Knox for the cryptocurrency,” and the US wouldn’t sell any Bitcoin it put in the reserve.\n\nSource: cointelegraph"
---

[Syz The Moment](https://blog.syzgroup.com/syz-the-moment)

# [Bitcoin fell below $119,000 on Thursday after US Treasury Secretary Scott Bessent said the government will not make new BTC purchases to fund a Bitcoin reserve.](https://blog.syzgroup.com/syz-the-moment/bitcoin-fell-below-119000-on-thursday-after-us-treasury-secretary-scott-bessent-said-the-government-will-not-make-new-btc-purchases-to-fund-a-bitcoin-reserve)

 Written by [Charles-Henry Monchau, CFA, CMT, CAIA](https://blog.syzgroup.com/syz-the-moment/author/charles-henry-monchau) | Aug 15, 2025, 1:26:22 PM

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