Uncle Sam Says “No Dice” to Bitcoin: Treasury Boss Tells Congress to Keep Their Hands Off

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Key Takeaways (Or, What You Need to Know Before You Go Blabbing)

  • The U.S. Treasury ain’t buying Bitcoin with your hard-earned tax dollars-no siree, Bob!
  • The only Bitcoin the government’s got is from nabbing ne’er-do-wells, not from playing the market.
  • Politicians are yapping about a Bitcoin stash, but the Treasury’s got its ears plugged tight.

Well, shucks, there went the neighborhood. Treasury Secretary Scott Bessent stood before Congress and gave ’em the old heave-ho on the idea of the government propping up Bitcoin. When asked if he could rig up some kind of safety net, Bessent just shook his head and said, “The law’s got me tied up tighter than a knot in a pig’s tail-can’t do it, wouldn’t do it, won’t do it.” And that, folks, is the long and short of it.

No Mandate, No Backstop-Just a Whole Lot of “No”

Representative Brad Sherman, bless his heart, tried every which way to Sunday to get Bessent to crack. He floated ideas like banks hoarding Bitcoin or tweaking rules to make crypto the bee’s knees. But Bessent was as stubborn as a mule in quicksand, repeating the same old tune: “Ain’t got the authority, can’t do a dern thing.” You’d think Sherman was trying to sell ice to Eskimos.

When the conversation wandered into the tall grass-talking about public funds in Bitcoin or even those wacky meme coins like TRUMP coin-Bessent drew a line in the sand. “Nope,” he said, “not on my watch. My job’s to keep the ship afloat, not to gamble with your money on some digital doodad.”

Seized Bitcoin: The Government’s Unwanted Windfall

Now, don’t get it twisted-the government’s got Bitcoin, alright, but it ain’t from playing the market. Bessent admitted they’ve got a pile of it from busting bad guys, treating it like any other loot they confiscate. Turns out, they’ve snagged about $1 billion worth, and thanks to the market’s wild ride, it’s ballooned to over $15 billion. “Pure luck,” Bessent said, “not a lick of strategy involved.”

Republicans Still Dreamin’ of Bitcoin Gold

Despite the Treasury’s hard “no,” some folks in Washington are still starry-eyed about Bitcoin. Senator Cynthia Lummis is peddling the idea of using gold reserves to buy Bitcoin, claiming it’s all above board. She’s had a chat with Bessent about it, but he ain’t biting. Still, she’s keeping that dream alive, bless her heart.

World Liberty Financial: The New Kid on the Block with a Shady Past

Just when you thought it couldn’t get any more interesting, along comes World Liberty Financial. Representative Gregory Meeks raised a ruckus about the outfit, pointing fingers at its founder, Eric Trump, who’s been bragging about “meaningful investors” without naming names. Sounds fishy, don’t it?

Meeks also brought up Senator Elizabeth Warren, who’s been sniffing around a deal with some UAE bigwigs. According to Meeks, the WLFI token’s got more red flags than a bullfight, with insiders calling the shots and the token losing half its value. He begged Bessent to put the brakes on any licensing, citing national security risks. But Bessent just shrugged and said, “Not my circus, not my monkeys.”

Treasury’s Bottom Line: No Bitcoin Buying Spree

At the end of the day, the Treasury’s message was clear as a bell: they ain’t buying Bitcoin, no matter how much the politicians squawk. The only Bitcoin they’ve got is from busting crooks, and that’s where it’ll stay. So, for now, the idea of a U.S. Bitcoin reserve is just a pipe dream-a political squabble with no legs to stand on.

Now, listen up: This here article’s just for learnin’, not for gamblin’. Don’t go bettin’ the farm on Bitcoin or any other crypto based on what you read here. Do your homework, talk to a smart fella with a license, and keep your wits about you.

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2026-02-05 09:56