Bitcoin strategic reserves are in place! If this billionaire becomes the U.S. Treasury Secretary, the cryptocurrency dream will come true.

The US Treasury Secretary candidate is highly anticipated, with Scott Bessent, founder of the hedge fund supporting Bitcoin’s inclusion as a national asset, receiving the most support. According to Bloomberg, the founder of Key Square Fund has received endorsements from several core advisors of Trump. In the Polymarket prediction market, his chances of becoming Treasury Secretary are as high as 89%.

From Soros to Trump, how did he become a crypto policy advocate?

Scott Bessent previously served as Chief Investment Officer at the Soros family office and has been a steadfast supporter of cryptocurrencies for years. In an interview with Fox Business Channel this July, he explicitly expressed support for Trump’s proposal to “classify Bitcoin as a national strategic reserve asset.” He emphasized at the time: “I believe all possibilities of Bitcoin are worth considering.”

Within Trump’s campaign team, Bessent not only helped raise campaign funds but also participated in drafting economic policy documents and speeches. These contributions earned him Trump’s trust and respect. If he becomes the US Treasury Secretary, these ambitious cryptocurrency visions could potentially be realized.

The true content of the Bitcoin strategic reserve plan

The Bitcoin strategic reserve plan proposed by Wyoming Republican Senator Cynthia Lummis is the core policy foundation. According to this plan, the US government will purchase up to 1 million Bitcoins over five years, accounting for 5% of the total Bitcoin supply. Based on the current BTC price of $92,090, this expenditure is estimated at approximately $89 billion.

Funding will be raised through the sale of $7 trillion in US Federal Reserve-held Treasury bonds, offering loans, and gold reserves. This operational model closely follows the existing gold reserve management mechanism of the US Treasury, aiming to establish a “decentralized Bitcoin reserve system.”

Strategic significance of integrating cryptocurrencies into the US financial system

Bessent has emphasized in policy discussions that promoting cryptocurrencies within the US economy is not only about financial innovation but also a key way to reconnect with groups traditionally alienated from markets. He stated: “Cryptocurrencies are attracting young people, those who have not previously participated in markets. Making the US market culture work, and convincing people that the market is effective for them—that is the core of capitalism.”

This perspective reflects that including Bitcoin in the national strategic reserve is not just an asset allocation decision but also an opportunity to reshape US financial inclusion and market confidence.

The Treasury Secretary candidate is about to be finalized

Although Trump has not officially announced the final candidate for US Treasury Secretary nor offered formal job commitments to any candidate, Bessent’s high support rate (89%) in the prediction market is enough to reflect market confidence in him. Once appointed, the likelihood of Bitcoin becoming a national-level strategic asset in the US will greatly increase, which will also have a profound impact on the global cryptocurrency market.