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Wow BTC swung up 5600 in 18 hours and tanked 6300 in 13 hours... classic high leverage flush. $1BN liquidated.

Market also rattled by a few other items

1) U.S. PPI Inflation comes in higher than expected.

Actual: 3.7% vs Estimated: 2.9%

2) The Real Rattle - Folks now Feel USA will not buy any BTC due to these comments - sounds like they do not have 198K BTC any longer... more like 160K.

  • Bessent on Crypto Reserves: Won’t be purchasing more; will utilize confiscated assets instead.

  • Bessent: Halting Bitcoin sales.

  • Bessent: Current Bitcoin reserves estimated at $15–20B.

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Comments

Good Idea

Best to buy now rather than wait for the price 5x or 10x. As usual the government moves slow.

onedollaretc

Powell would not lower the rate with that high PPI, would he?

Hobbit

Utilize? You're Getting utilized, you fools....and you're utilizing us along with you. Dumb.

Matt

They fucked us over for votes!

Matt

So what’s this mean for the BtC treasury? All the Trump signings were for nothing to pump his Trump token?

Tiger Mike

Trump is a NYC developer/gangster. Friends of the Mafia. He will turn on voters whenever it suits him. But why do we care if the govt. buys BTC? We don't need them and we shouldn't want them. Govt is just a bunch of leaches.

Luke_Crypto_EU

of course they wont buy BTC. They are full of shit like the whole gang of clowns in the WH. He made his money with Melania and Trump coins and used the voting power of crypto holders. You all have been played ;)

Ron S

Bessent just tweeted that the US is still looking for budget-neutral ways to expand the bItcoin stockpile. Sounds like a "I got some heat" response tweet.

Adam Toth

They have always said that they want to do it budget-neutrally. I'm not sure how they can buy anything in a budget-neutral way. Maybe they can sell/leverage some other assets like land or gold.

Jules

LOL, the likes of you would strongly prefer Gensler at the helm of Elizabeth Warren's anit-crypto army.

JNibz

These dipshites are missing the biggest opportunity to put the United States in the best financial position fiscally in its existence. I can't believe the incompetence. Just buy some f'ing Bitcoin you f'ing retards.