U.S. Treasury Secretary Scott Bessent announced that the government will not be buying additional Bitcoin to supplement its existing reserves. The existing Bitcoin held by the government comes from law enforcement seizures, and Bessent clarified that future growth of these reserves would also rely on such seizures. Previously, there had been speculation among White House officials about acquiring more Bitcoin, potentially legitimizing the cryptocurrency and impacting its market value positively. However, no official plans for additional purchases have emerged since the announcement of a federal Bitcoin reserve in March by former President Trump. Bessent's comments mark a shift from earlier discussions about boosting the U.S. Bitcoin reserves. He estimates that current government holdings of Bitcoin amount to between $15 billion to $20 billion at current market prices. This development is closely watched by Bitcoin enthusiasts who had hoped for more substantial government involvement in the cryptocurrency market.

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