U.S. Treasury Secretary Scott Bessent said the department is moving at a deliberate speed to establish a strategic Bitcoin reserve.
The push for a national cryptocurrency reserve and the associated Clarity Act represents a fundamental shift in how the U.S. government manages sovereign assets. If passed, the legislation would provide the legal framework necessary to integrate digital assets into federal financial strategy.
Bessent said the remarks Wednesday during a Senate Finance Committee hearing focused on the 2027 budget [2]. He said the need for legislative support to solidify the reserve effort, which was first called for in an executive order more than a year ago [1].
“We are moving at a deliberate speed to establish a strategic Bitcoin reserve,” Bessent said.
The Treasury Secretary specifically targeted the current legislative window for the passage of the Clarity Act. He said that the act is essential for the reserve's success and said, “I want the Clarity Act done this summer.”
Bessent also linked the potential for legislative success to market performance. He said that passing the Clarity Act will lift the price of Bitcoin.
The hearing in Washington, D.C., highlighted the ongoing coordination between the Treasury and Congress regarding the 2027 budget [2]. While the executive order initiated the process, the Treasury is now seeking a statutory basis to ensure the reserve is established on a permanent, and transparent footing.
““We are moving at a deliberate speed to establish a strategic Bitcoin reserve.””
The Treasury's insistence on a 'deliberate speed' suggests a cautious approach to integrating a volatile asset into the national balance sheet. By tying the reserve's success to the Clarity Act, the administration is signaling that it will not move forward with significant Bitcoin acquisitions without clear congressional authorization and regulatory guidelines to mitigate legal and financial risks.
