Bitcoin Sheds $55B After Treasury’s Remarks; Recovery Stalls

• Treasury Secretary Scott Bessent’s comments triggered a $55 billion drop in Bitcoin’s market cap.
• His later clarification failed to fully restore investor confidence or Bitcoin’s price.

On August 15, 2025, Cointelegraph reported that U.S. Treasury Secretary Scott Bessent’s remarks led to significant volatility within Bitcoin markets. During an interview with FOX Business earlier that day, Bessent stated that the Treasury would not actively purchase Bitcoin for the Strategic Bitcoin Reserve. This statement caused a rapid sell-off, slashing approximately $55 billion from Bitcoin’s market capitalization in less than 40 minutes. Bitcoin’s price dropped from $121,073 to below $118,886.

Later that day, Bessent issued a clarification on social media platform X, noting that the Treasury remains "committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the reserve." He explained that this acquisition strategy aligns with the administration’s goal of cementing the U.S. as a "Bitcoin superpower of the world." Additionally, he confirmed plans to stop selling the Treasury’s current Bitcoin holdings while incorporating Bitcoin forfeited to the government into the reserve.

According to BitBo's Bitcoin Treasuries dashboard, the U.S. currently holds 198,012 Bitcoin worth approximately $23.5 billion, though Bessent estimated the Strategic Bitcoin Reserve's value at between $15 billion and $20 billion.

Despite the clarification, market uncertainty persists. Bitcoin’s price has not regained its previous levels, reflecting lingering investor skepticism. The conflicting statements highlight the market's sensitivity to U.S. government communications and policy changes surrounding digital assets.

As of August 15, 2025, 04:48 UTC, Bitcoin (BTC) is trading at $118,990.15, marking a 3.418% decrease in 24-hour trading volume, according to CoinMarketCap.