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Investing.com -- The U.S. Treasury Department is considering plans to acquire cryptocurrency for a strategic reserve, starting with Bitcoin, according to statements made by Treasury Secretary Scott Bessent on Friday. The discussion on these plans is set to take place before industry leaders meet with President Donald Trump at the White House.
In an interview with CNBC, Bessent revealed that the initial cryptocurrency assets to be included in the reserve would be those that have been seized. Following this, the department will evaluate potential avenues for further acquisitions to add to the reserve.
Bessent emphasized that while the strategic reserve will start with Bitcoin, the plan involves building an overall crypto reserve, suggesting that other cryptocurrencies might be considered in the future. This move marks a significant step by the U.S. government in acknowledging the role of digital currencies in the financial sector.
Details of the meeting with industry leaders and the exact plans for the strategic reserve are yet to be disclosed.
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