At the World Economic Forum held in Davos, Switzerland, U.S. Treasury Secretary Scott Bessent reiterated President Donald Trump’s ambition to establish the United States as a pioneer in cryptocurrency and digital asset development.
Bessent emphasized that the current administration remains committed to its initiative of building a strategic Bitcoin reserve.
During a press briefing in Davos, he highlighted the U.S. government’s intention to develop the most effective regulatory framework for digital assets, aiming to foster innovation and creativity within this sector. He referenced a presidential executive order signed by Trump which directed that Bitcoin be held as a strategic government asset. Furthermore, Bessent mentioned ongoing discussions about expanding this reserve through budget-neutral strategies.
When questioned about whether approximately $6 million worth of Bitcoin—confiscated following plea agreements with Samourai Wallet developers Keonne Rodriguez and William Lonergan Hill—had been sold, Bessent declined to provide an answer. However, Patrick Witt, an advisor on cryptocurrency at the White House last week clarified that these Bitcoins remain unsold and affirmed compliance with Trump’s directive regarding the strategic reserve.
The foundation for this strategic Bitcoin reserve was laid out by President Trump’s executive order issued in March 2025. This order specified that Bitcoins acquired through legal seizures would form the initial holdings of this reserve and explicitly prohibited their sale. According to Bessent, halting any sales of seized Bitcoins is a top priority; once secured, further growth of the reserve could occur via additional asset confiscations.
*This content does not constitute investment advice.