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Bitcoin prices tumbled after the US Treasury confirmed it would not expand its Bitcoin reserve through new purchases. Treasury Secretary Scott Bessent stated future additions would come from confiscated assets, sparking market volatility and liquidations.
- Treasury Secretary Scott Bessent confirmed the US will not buy additional Bitcoin, relying instead on confiscated assets to grow reserves.
- Bitcoin's price dropped sharply, erasing gains and causing $450 million in liquidations as traders adjusted to the policy clarity.
- Bessent linked Treasury's financial strategies to rising tariff revenues, which could exceed $300 billion annually, funding other asset plans.
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