Treasury Secretary Scott Bessent Says US Has No Authority To ‘Bail Out’ Bitcoin
Posted On February 4, 2026
Treasury Secretary Scott Bessent pushed back against speculation around a Strategic Bitcoin reserve, making clear that the federal government has no legal authority to support or “bail out” Bitcoin (CRYPTO: BTC) using public funds.
No Bitcoin Bailout Authority
During a House Financial Services Committee hearing on financial stability risks, a lawmaker questioned whether the U.S. government could support Bitcoin by directing banks to buy it or by deploying taxpayer funds into crypto markets.
Bessent firmly rejected the premise, stating that neither the Treasury Department nor federal regulators have the authority to compel banks to purchase Bitcoin or to invest public money into crypto assets, …
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