US Wont Come to Save Bitcoin, Says Trump’s Treasury Secretary
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US Treasury Secretary Scott Bessent faced an unusual line of questioning on Capitol Hill on Wednesday. Rep. Brad Sherman (D-CA) pressed him on whether the federal government could step in to “bail out Bitcoin” during a downturn. It comes as Bitcoin and the broader digital asset market bleed, with the pioneer crypto down by over 40% from its all-time high (ATH) and nearly 30% from its 2026 peak. Sponsored Sponsored Treasury Clarifies: No Federal Bailout for Bitcoin, Investors Bear Full Risk The exchange, part of a hearing before the House Financial Services Committee, highlighted both the decentralized nature of Bitcoin and the limitations of US financial authorities in stabilizing digital assets. “Does the Treasury Department… have the authority to bail out Bitcoin?” Sherman asked, referencing the 2008 financial bailouts that rescued major banks and Wall Street firms. Bessent paused before asking for clarification: “What exactly does ‘bail out Bitcoin’ mean?” Sherman elaborated, asking whether the Treasury could direct US banks to purchase Bitcoin or deploy taxpayer dollars to support the Bitcoin price. Indeed, the pioneer crypto needs saving, as it falls nearly 45% from its ATH of $126,199 on the Binance exchange and early 30% from its 2026 high of $97,924. Bitcoin (BTC) Price Performance. Source: TradingView “I am Secretary of the Treasury. I do not have the authority to do that, and as chair of FSOC [the Financial Stability Oversight Council], I do not have that authority,” Bessent articulated. The Secretary’s answer effectively rules out any federal safety net for Bitcoin investors. It also reaffirms Bitcoin’s status as a fully decentralized asset, free from government intervention. This reminder likely contributed to Bitcoin’s 3% intra-day decline on Wednesday, though broader market weakness also played a role. Sponsored Sponsored Seized Bitcoin Shows Government Gains Despite the lack of a bailout, Bessent…
Filed under: News - @ February 5, 2026 9:22 am