Bitcoin Reserve: U.S. Treasury Rules Out BTC Buys as GOP Senators Push For Use Of Gold Reserves

A heated debate over a Bitcoin reserve erupted on Capitol Hill today as U.S. Treasury Secretary Scott Bessent told lawmakers the U.S. government does not plan to buy $BTC with taxpayer funds. The exchange occurred during a House Financial Services Committee hearing, as Rep. Brad Sherman pressed him on a government intervention for Bitcoin. However, Bessent said the current law gives him no authority to “bail out Bitcoin.”