The government is speculating on cryptocurrencies again.

According to Cointelegraph, U.S. Treasury Secretary Scott Bessent stated that the government has no plans to increase its Bitcoin reserves, causing Bitcoin to drop below the psychological support level of $120,000, currently reported at $118,730.Bessent confirmed in an interview with Fox Business that the government will not purchase Bitcoin again, but will instead utilize seized assets to increase reserves. This contradicts President Trump's previous executive order, which called for the development of a budget-neutral strategy to increase Bitcoin holdings.In April of this year, Bo Hines, a member of the then-president's Digital Asset Advisory Committee, stated that the government is exploring options to fund Bitcoin acquisitions through tariff revenues and reassessing the Treasury's gold certificates.