Treasury Secretary Bessent: Bitcoin Reserve Moving with 'Deliberate Speed'
U.S. Treasury Secretary Scott Bessent testified before the Senate Finance Committee on June 3, 2026, addressing the 2027 budget and crypto policy. He confirmed that the Treasury is proceeding with 'deliberate speed' to establish a strategic Bitcoin reserve as mandated by President Trump's March 2025 executive order. The U.S. currently holds 328,372 BTC worth $20.6 billion, primarily from criminal and civil forfeitures. Bessent emphasized the administration's methodical approach, stating that 'best practices' are being used to ensure durability. He also urged lawmakers to pass the Digital Asset Market Clarity Act this summer, calling it necessary for U.S. competitiveness in digital assets. Senator Cynthia Lummis praised Bessent's remarks, highlighting the shift from fringe idea to official policy. The CLARITY Act, which aims to create a comprehensive regulatory framework for digital assets, faces a challenging path to full Senate approval. Additionally, the ARMA bill, reintroduced to formalize the Bitcoin reserve, gained momentum in May.
Key facts
- Treasury Secretary Besset confirmed 'deliberate speed' on strategic Bitcoin reserve.
- U.S. holds 328,372 BTC ($20.6B) from criminal and civil forfeitures.
- Bessent urged passage of the CLARITY Act this summer.
- Senator Lummis praised Bessent's remarks as a sign of progress.
- CLARITY Act faces challenging path to full Senate approval.