President Donald Trump’s administration has outlined a position of direct non-intervention in the face of Bitcoin (BTC) price volatility through a recent statement from Treasury Secretary Scott Bessent.
As of this writing, February 6, 2026, Bitcoin is trading below $67,000 following a price decline that erases the gains recorded since the 2024 presidential election.
And although no specific statements or direct references to the decline have been issued in recent days, recent actions and statements by government officials are essentially related to the current trends in the digital asset market. Longest decline since 2018.
At a February 4th Congressional hearing, Treasury Secretary Scott Bessent, who also chairs the Financial Stability Oversight Council (FSOC), appeared before the House Financial Services Committee and the Senate Banking Committee.
At the time, Bessent clarified the limits of executive authority in the face of questions from Rep. Brad Sherman, a known cryptocurrency skeptic.
“I don’t have the authority to do that, and as FSOC chair, I don’t have the authority to do that,” Bessent said, referring to the Treasury’s ability to order private banks to use public funds to buy Bitcoin or potentially rescue the market.
I do not have the authority to purchase Bitcoin with taxpayers’ money.
Scott Bessent, U.S. Treasury Secretary;
These statements underscore that the government’s commitment has remained since the election campaign, despite the pro-Bitcoin rhetoric. This does not include active intervention to add BTC to reserves.
This reserve, made up of confiscated Bitcoins, generated an estimated profit of more than $15 billion. However, the Secretary emphasized that this reserve is passive in nature, with no provision for additional purchases with federal funds and is limited to foreclosed assets.
Mr. Bessent’s remarks coincided with an acceleration of the decline in BTC prices, which fell by approximately 15% within 24 hours after the February 4th hearing.
Bessent’s words resonated across the digital asset ecosystem. Expectations were high for more active state support. In regions with high adoption of BTC as a haven (in the face of inflation and currency devaluation), the uncertainty was highlighted and reflected in massive reactions on social networks and forums.
Despite many recognizing that Bitcoin “doesn’t need a state,” the international community expressed disappointment at the lack of direct support.
Mr. Bessent’s words stand in contrast to Mr. Trump’s pledge, who has expressed an intention to turn the United States into the “crypto capital of the world” and has pushed for the creation of a Bitcoin strategic reserve.
However, the legal limits set by the Secretary of the Treasury are: Demonstrates government enthusiasm for promoting a regulatory environment For example, with stablecoins, there is no exposure to factors that can significantly impact the price of an asset.
More voices from the Trump administration on Bitcoin
Other key officials have articulated a vision focused on long-term regulation. White House crypto “czar” David Sachs has prioritized the bill over this area.
In a recent appearance, Sachs described stablecoins as “a new payment rail for the 21st century” and expressed his expectations for the following: Fully integrate traditional banks into the digital asset ecosystem.
This vision points to the integration of traditional and digital finance, which is perceived as necessary by some politicians to strengthen long-term institutional stability and adoption, but may be perceived as less decentralized.
Meanwhile, Sen. Cynthia Lummis, one of the most prominent Bitcoin supporters in Congress and the lead author of the Bitcoin Act of 2025 (S.954, reintroduced in March 2025 to increase the Bitcoin Strategic Reserve announced by President Trump by executive order), has been actively discussing ways to strengthen the United States’ position in digital assets.
In fact, at the February 5, 2026 Senate Banking Committee hearing (where Mr. Bessent presented the FSOC annual report), Mr. Lummis directly questioned the Secretary of the Treasury on key issues, including: Get more BTC using gold reserves or other mechanismsa proposal rejected by Bessent, reiterated the lack of enforcement powers for publicly funded purchases or direct market intervention.
Mr. Lummis also pushed for regulatory clarity on tax issues, such as the possibility of tax exemption for small Bitcoin transactions and clear guidance on capital gains calculations for commingled portfolios, and expressed a willingness to work with the Treasury Department to move forward in these areas.
His legislative work complements David Sachs’ approach to advancing the digital asset regulatory framework. It is based on the idea of ​​integrating traditional finance with the Bitcoin and cryptocurrency ecosystem and facilitating institutional adoption without relying on direct intervention such as asset purchases.
And while the new virtual currency law remains in committee (Senate Banking, Housing, and Urban Affairs) without significant progress toward approval, Lummis said, He emphasized that regulatory clarity and bank consolidation are priorities. This is to counter global risks and maintain American leadership.
Considering all this, it is clear that the Donald Trump administration has no direct measures in mind to affect the Bitcoin market. Their strategy focuses on establishing a regulatory framework for the digital asset sector, promoting stablecoins, and passively managing strategic reserves of seized assets, rather than actively intervening in the dynamics reflected in prices, as the community perhaps expected.
(Tag translation)Bitcoin (BTC)
