U.S. Treasury Secretary Scott Bessent stated during a congressional hearing on February 4, 2026, that the Treasury Department and the Financial Stability Oversight Council (FSOC) do not have the authority to back Bitcoin or mandate commercial banks to purchase it. Bessent emphasized that taxpayer funds will not be used to invest in cryptocurrencies. He clarified that the Bitcoin currently held by the government is from judicial seizures, not investments made with tax revenue. This statement aims to dispel any misconceptions about the government's involvement in cryptocurrency investments.
U.S. Treasury Secretary Scott Bessent Clarifies Stance on Bitcoin Investments
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