Re: US Strategic Reserve; is it right to actually use seized assets as reserves
United States Treasury Secretary Scott Bessent made it clear that the US will not be buying more Bitcoin for its reserve. So the country will be depending on more seizures. This is a strange move since these Bitcoins have always been auctioned. I think the US law gives those in power to do whatever they want with seized assets.
Scott Bessent stated on August 14 that the United States will no longer buy bitcoin and will accumulate bitcoin through seizures. But just a day later, he retracted that statement and corrected that the US Treasury would look for solutions to buy more bitcoin to expand the reserve fund.
Unlike the German constitution, the US constitution allows the government to do whatever it wants with confiscated property. So we shouldn't be surprised that they decided to hold onto it for years before turning it into a strategic reserve.
https://x.com/SecScottBessent/status/1956080030137626887