Bessent’s BTC Reserve Statements in Congress
US Treasury Secretary Scott Bessent testified before Congress on Wednesday, stating that the US will hold onto its seized Bitcoin (BTC) assets but will not order private banks to purchase more BTC during market downturns. In response to California Congressman Brad Sherman’s question about rescuing Bitcoin or forcing banks to buy assets similar to “Trump Coin,” Bessent emphasized that he lacks the authority and does not have such authority even as chairman of the Financial Stability Oversight Council.
Secretary Bessent testifies before Congress on Wednesday. Source: CNBCThe US government’s seized BTC, originally worth 500 million dollars, has risen to 15 billion dollars during custody. The Bitcoin strategic reserve, established by Trump’s executive order signed in March 2025, can only be expanded through asset seizures or budget-neutral strategies. Budget-neutral methods include converting existing reserves such as oil or precious metals to BTC; open market purchases are excluded. In August 2025, Bessent announced that they are researching BTC purchases via budget-neutral methods.
Source: Scott BessentBTC Technical Analysis and Market Support
As of February 4, 2026, BTC price is at 73,741.66 USD level, with a 24-hour change of +%0.80. RSI at 23.20 is in the oversold region, overall trend is downtrend, and Supertrend is giving a bearish signal. Pressure continues above EMA 20: 84,257.75 USD.
- Supports: S1 72,169 USD (strong, %78 score), S2 69,411 USD (medium, %50 score)
- Resistances: R1 77,127 USD (strong, %66 score), R2 81,476 USD (strong, %63 score)
Visit our pages for BTC’s detailed spot analysis and futures. Reserve news may provide short-term support, but bearish indicators require caution. BTC chart analysis is recommended.
Source: https://en.coinotag.com/us-treasury-btc-reserves-will-be-held-no-coercion-on-banks
